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Equalization director details $983,000 annual tax revenue loss from development capture districts
Summary
The county's equalization director presented a downtown development authority (DDA) and local development financing authority (LDFA) capture report showing roughly $983,000 in annual lost tax revenue countywide from incremental capture, with specific figures by municipality.
Equalization staff presented the county's DDA/LDFA capture (tax-increment financing) report and quantified revenue the county no longer receives because incremental growth is captured by local development authorities.
Equalization director Tim (first name only in the transcript) described how tax-increment financing districts establish a base year tax value and then capture increases attributable to new construction or inflation for local development projects.…
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