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Monongalia County officials update public on 10 active TIF districts, explain how they work
Summary
County tax officials explained how tax increment financing (TIF) districts in Monongalia County capture growth in property value to fund development, described operational complexity across 10 districts, and said school boards are largely made whole via state reimbursement.
Monongalia County tax officials gave the Board of Education a detailed briefing May 27 on the county’s 10 tax increment financing (TIF) districts, explaining the mechanics of how TIFs capture growth in assessed value to pay bonds for infrastructure and development.
Tax deputy Kelly Palmer, who said she has been chief tax deputy for 16 years, told the board TIFs do not raise property tax rates and do not reduce school levies or general obligation bond levies. “A lot of times people will call in and say, what is this TIF I’m paying for? … If your taxes are $10, they’re $10. It’s just the way we distribute them,” Palmer said.
Chief Deputy Assessor Patrick Tinney described the assessor’s role: his office sets the assessed base for parcels placed in a…
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