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Municipal advisers present TIF outlook; town sees $5.2M projected revenue for 2026
Summary
Baker Tilly told the Mooresville Redevelopment Commission that TIF collections totaled about $3.8 million in 2025, and projected roughly $5.2 million for 2026; advisers warned a modest drop may follow in 2027 because of statewide property-tax deduction changes, while long-term debt and planned projects will shape available funds.
Sam Schrader, municipal adviser with Baker Tilly, told the Mooresville Redevelopment Commission on May 7 that the town’s three tax increment financing (TIF) areas produced about $3.8 million in actual collections for 2025, below an earlier projection of just over $4 million.
"We are anticipating a bump in revenue for '26," Schrader said, projecting roughly $5.2 million for 2026. He cautioned that legislative changes to property-tax deductions rolling in from pay 2026 through 2031 could cause a slight decline in collections beginning in pay 2027.
The presentation outlined two long-term obligations supported by…
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