Author

Kevin Price

Date of Award

7-2013

Document Type

Capstone

Degree Name

Master of Public Management (MPM)

Department

Public Policy and Management

Keywords

tax increment financing, TIFs, economic development

Abstract

Tax Increment Financing (TIF) is an economic development tool authorized for use in 49 states and the District of Columbia. TIFs are a very popular economic development tool that allow for a low-cost way to fund development projects. A TIF is designed to turn an undesirable or underdeveloped area into a developed, revenue generating area. The restrictions as to the exact types of property that quality for TIF vary from state to state, but they generally are used to target underdeveloped areas to encourage growth. Maine places several limitations on TIFs including acreage caps, a value cap, a municipal indebtedness ceiling, and term limits.

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