Tax Increment Financing for Transit Projects (2020) / Chapter Skim
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Pages 35-39
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TCRP LRD 55 35 conveyed to private ownership to effectuate the redevelopment. authorized In City of Hollywood Cmty.
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36 TCRP LRD 55 Rhode Island under R.I.
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TCRP LRD 55 37 portion of future revenue may add insult to injury, and spur opposition.188 For example, 46 states and the District of Columbia restrict local property tax revenue generation in some way, and such laws frequently limit local governments' ability to provide services, especially when the state does not match the foregone revenue. Recent state-level laws to restrict property tax growth, such as the Texas Property Tax Reform and Transparency Act of 2019 which requires a referendum if taxing authorities wish to raise tax revenues more than 3.5% over the previous year, promise to further hamstring municipal budgets189 and may therefore intensify intergovernmental competition for limited funds.
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38 TCRP LRD 55 to pledge a portion of tax increments derived from the educational ad valorem property taxes levied and collected within the BeltLine TAD. Woodham asserted that the proposed use of school taxes to fund the BeltLine Plan violates Art.
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TCRP LRD 55 39 C. Concerns About Transit-Induced Gentrification and TIFs A growing area of interest in transportation research examines the linkage between transit investments, specifically capital investments in new rail systems and stations, and gentrification and displacement in transit-oriented and -adjacent neighborhoods. Rising property values, upon which TIF fundamentally depends, can lower affordability.
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