From the Batesville Herald-Tribune:
The expansion of Batesville’s proposed Tax Increment Financing district by 398 acres north, south and east of the existing 57-acre area and how it will affect the Batesville Community School Corp. were discussed March 18.
“TIF is a relatively new tool for the city of Batesville,” Mayor Rick Fledderman told BCSC trustees. “We put two TIFs in place in the last four or five years and have received revenue of about $22,000.
“We had a tax impact statement done .... (and) it revealed there would be no impact on the taxing units. It will benefit the schools if we create jobs because jobs create more enrollment for the schools and increased tax revenues. The tax dollars you’re getting will stay, but taxes from any future developments will be captured by the TIF.
“If the assessed value goes up, you will benefit from that .... We’re using this as a tool to attract businesses, and our goal it to make Batesville a better community. Our hope is to (use the revenue collected) to make improvements, not only with infrastructure, but aesthetically. (The monies) can be used to help the police and fire departments, and if there is something the school wants that would be serving the greater good of the community, we can possibly help you, too.”
The mayor noted, “I have been in conversation with superintendent (Dr. Jim) Roberts” about the process.
Roberts pointed out, “When TIF was proposed years ago, we were very concerned about our General Fund. At one point, 50 percent of it came from property taxes.” With funding changes in the state Legislature, that’s no longer the case. However, “it would still affect the Capital Projects Fund, as we move forward with technology and other projects.”
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See the full article here:
http://batesvilleheraldtribune.com/local/x765744328/BCSC-trustees-learn-about-TIF
