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Residents press questions at Milford public hearing on proposed residential TIF
Summary
At a required public hearing, residents asked how a proposed residential TIF would work, who initiated it, and whether the city would pay for developer shortfalls; staff said residents' tax bills remain the same and the city would capture incremental value (75% for 10 years) for eligible public improvements.
Milford — The council opened a statutorily required public hearing on a proposed residential tax‑increment financing (TIF) district that would capture a portion of future property‑tax growth to pay for public infrastructure within the project area.
What a TIF would do: City staff explained that a TIF does not change residents’ base property tax obligations or create an abatement; rather the city would capture a portion of the increase in assessed value attributable to development.…
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