LA CROSSE, Wis. (WXOW)-- Tax incremental finance districts or TIF districts are a tool the city uses to develop or improve parts of the city.
On Monday, The League of Women Voters gathered to learn about TIFs. When an area is defined as a TIF district, property taxes are reallocated to development and investment in the area for a set amount of time, usually between 20 and 27 years.
As the area is developed, the increased tax revenue is put back in to the district. Once the TIF ends, there is increased tax revenue for the city.
"TID's (TIF districts) are important and they're important to the community," said Wayne Delagrave, the director of finance for the City of La Crosse. "It was one of the very few development tools that the city or municipalities across the state of Wisconsin have to enhance opportunists in their communities. without raising taxes significantly."
Right now, La Crosse has 12 TIF districts. There is discussion of creating another TIF district at the former Trane plant site on the north side known as Plant 6.
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