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What happens when TIF runs out?
Let me explain with an example
A shopping Center gets TIF. The bonds run for 10 years. What happens when the TIF runs out or, i guess more precisely, when the bonds are paid off.
I'm looking at this from more of a SCHOOL angle than a business angle.
1 Answer
- Anonymous1 decade agoFavorite Answer
The property will be assessed by the county assessor and taxed just like every other commercial property. All that happens is that their tax protection expires and they join the rolls of taxpayers.