TIFs Hot Topic at City/County Joint Meeting
COLUMBIA - Taxes and revenue were two main topics at the Columbia City/County joint meeting Monday.
Columbia City Manager Mike Matthes encouraged more tax increment financing (TIFs). He proposed adding TIFs for sites including Flat Brand Park and Creek, storm drain systems and busy intersections such as Providence and Broadway.
Matthes explained that TIFs allow taxes in districts to freeze, and then that revenue goes to a separate city fund. Residents are not paying more taxes, the city is just using taxes that have already been paid. TIFs allow more developing in sites in which they are used, sites that otherwise would never be redeveloped.