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What is Tax Increment Financing?

Tax Increment Financing (TIF) is a technique that allows a local government or redevelopment authority to generate revenues for a group of blighted properties targeted for improvement, known as a TIF district. As improvements are made within the district, and as property values increase, the incremental increases in property tax revenue are earmarked for a fund that is used for improvements within the district.

Expenditures of TIF-generated revenues are subject to certain restrictions and must be spent within the district. The funds generated from a new TIF district could be used to finance a variety of improvement projects including: City-made low interest loans and/or grants for on-site infrastructure needs, landscaping, parking, and decorative street lighting; and public construction of off-site infrastructure needs when it benefits the community at large.

 

City of Kalispell Tax Increment Financing Districts (TIFs):

The City of Kalispell has four TIF Disticts: The Westside / Core Area TIF, the South Kalispell / Airport TIF and the Old School Station Technology & Industrial TIF.

 

 

Kalispell Tax Increment Financing District Annual Report

 

Westside / Core Area TIF

West Side / Core Area Map

West Side / Core Area TIF Policy and Procedures

West Side / Core Area TIF Application

 

South Kalispell / Airport TIF

South Kalipsell /Airport Map

South Kalispell / Airport TIF Application

 

Old School Station Industrial & Technology TIF

Old School Station Map

Old School Station / Technology TIF Application

 

For more information regarding TIF applications, contact Katharine Thompson at kthompson@kalispell.com or 406-758-7713.

 

Photos courtesy of Digital Broadway LLC