Saturday, December 21, 2013

Daily Journal Reports Greenwood Seeks to Enlarge Special Tax District

From the Johnson County Daily Journal:

Greenwood wants to increase the size of a special taxing district, so that more tax money can be set aside for special projects that can be done in more areas of the city.

The Greenwood Redevelopment Commission has proposed doubling the size of the city’s current eastside tax-increment (TIF) financing district. The city board wants to add 2,000 acres into the district, which would include more of downtown and land from County Line Road south to beyond Worthsville Road.

By enlarging that TIF district, the city would be able to collect tax money from more businesses as they grow and expand and will be able to spend that money in more areas of the city, such as in downtown Greenwood for projects to widen streets and sidewalks. After the expansion, the TIF district would include about 25 percent of the city.