Learn me TIF - Zones, FAST

Any experience with TIF zones??

I just learned that I am in one, and that the city plans to widen the road in front of my house (destroying my property value and stealing most of my front lawn). The way I understand the TIF-zone concept, this project is purported to increase my property value and thus my property tax, and they borrow against the future tax increase in order to fund the project. So basically, they are stealing money from me in order to complete a project that is going to destroy my property value (the beauty of my home, the use of my front yard, safety of my kids, all affected).

I am pretty well resigned to the fact that I have no power and whatever has been set into motion is going to happen, but if anyone can lend any insight, I would appreciate it.

City council meeting on the subject in 1 hour and 45 minutes...

I have no idea, just wanted to say good luck and keep us updated.

No time to spare – run to your local natural history museum and grab whatever artifacts you can get your hands on, weaved baskets, bone fragments, whatever, just grab them and plant them where they’ll be digging.

Make sure they don't read you any poetry at that meeting!!!!

Sounds like you are going to be berkeleyed.

http://en.wikipedia.org/wiki/Tax_increment_financing

The increased traffic flow across your front yard is going to make some developer rich, and you get to finance the infrastructure that they need to make their venture work.

I've been in local government for almost a decade and that's the first I've heard of this type of TIF.

What is your property zoned and what is your lot size? In this state we would have to compensate you for the fair value of the property taken for the road project. If this project will in fact be decreasing your property value (after accounting for the compensation mentioned above) it seems counter to the TIF idea.

TIF is supposed to increase the overall property value of the TIF district, but as with most things, someone gets screwed.

It's been a long time since I dealt with TIF stuff, so my memory is more than slightly hazy, but as I recall, they have to compensate you, and I believe they have to show the area is "blighted".

Two separate issues.

One is the road widening. BTDT, and as you expect, you will lose. If you can't stand what's coming, sell and move. That's really your only option. Oh, you can fight and perhaps delay things a little. You can spend lots of money on lawyer fees. But in the end, the road will be widened, whether you like it or not.

TIF. That's pretty much everywhere in the US. They are the government, they are here to help, and you will pay for it. You actually can do some limited fighting and winning on the increased property value. Sometimes it's easy, sometimes it's darn hard. Generally involves going to a hearing and presenting reasons why your property wont be as valuable as they claim. Will they just believe you? No. But will they listen and do some limited adjusting? Likely.

Around here you usually have to fight (take them to court) to get fair market value for your property.