Schools want Restrictions on Development Incentives

1 decade 3 years 1 month ago Wednesday, April 05 2006 Apr 5, 2006 Wednesday, April 05, 2006 1:06:41 PM CDT April 05, 2006 in News
A Senate committee is studying revisions to "tax increment financing." The TIF incentives allow a portion of the higher sales and property taxes generated by a development to help pay for its costs instead of going to government or school operations. The Missouri School Boards' Association wants legislators to prohibit TIF incentives for residential developments. Association lobbyist Chris Straub says the current system is unfair for schools. That's because they have to educate the children who move into the new homes, but don't get the higher property taxes from those homes.

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