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Baker Tilly warns new law could cut TIF revenues if county misses June 15 notices
Summary
Baker Tilly presented Delaware County’s annual TIF management report, noting 27 county allocation areas and 11 bond issues; a new state law (House Enrolled Act 1210) imposes an automatic 5% pass‑through if counties do not file required notice by June 15, which could reduce TIF revenue for some areas.
Matt Eckerley of Baker Tilly presented the annual tax increment financing (TIF) management report, a required year‑end accounting of allocation area revenues, expenditures and bond debt service. The presentation summarized 27 county allocation areas under the county’s jurisdiction, year‑end fund balances and the redevelopment commission’s capital and debt activity across 11 bond issues.
Eckerley highlighted a legislative change (House Enrolled Act 1210) that strengthens the notice requirement: if the county does not determine and file its intent to capture eligible incremental assessed value by June 15 the statute triggers an automatic pass‑through of 5% of eligible incremental assessed value to overlapping taxing units. He urged the county to complete and file the required notices and provided form letters and distribution lists to staff.
He reviewed major fund balances and noted that December TIF settlements are often used to make early‑year bond payments, producing a timing difference between year‑end balances and cash available for service. Eckerley also noted new deduction regimes for homestead and 2% property categories that can reduce incremental assessed value in some allocation areas and recommended continued monitoring.
Council members asked about terminating allocation areas that are no longer generating incremental value and requested a summarized schedule showing annual revenues, expenditures and debt service totals by allocation area for quick reference. Eckerley agreed to provide follow‑up materials and a TIF cash position report for council review.
