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State auditor: Burlington waterfront TIF extension lacks clear retention rules and produced underpayments
Summary
Tanya Morehouse, chief auditor for the State Auditor's Office, told the committee that Act 134 extended retention to 2035 but did not specify retention percentages or a base-value date; audit work found automated calculations underpaid the education fund and that one parcel was wrongly excluded from original taxable value.
Tanya Morehouse, chief auditor for the State Auditor's Office, told the committee she flagged multiple technical problems with the Burlington waterfront tax-increment financing (TIF) district during the office’s 2023 audit and urged statutory clarity before lawmakers extend the district’s retention period.
Morehouse said Act 134 extended the municipal and education tax-increment retention period for three parcels until 2035 but did not specify what retention percentage should apply or what date should be used as the base value for tax-increment calculations. "Act 134 ... doesn't address what the retention percentages should be for either of those and also doesn't establish a date to use for base value," she said, noting the omission creates room for differing legal interpretations.
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