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Commission approves annual TIF pass-through letters to taxing units, citing new county requirement
Summary
The commission agreed to send three annual TIF pass-through letters covering the city's allocation areas to overlapping taxing units and the county auditor to avoid an automatic 5% pass-through of assessed value, Baker Tilly consultant Andy Mouser said.
The Michigan City Redevelopment Commission approved sending three annual TIF pass-through letters to overlapping taxing units and the LaPorte County auditor at its June 8 meeting.
Andy Mouser of Baker Tilly told the commission this notification is an annual requirement and described a new consequence this year: "if a redevelopment commission does not notify the county auditor, then the county auditor is directed to automatically pass through 5% of the assessed value from each TIF area," potentially reducing captured value for redevelopment use.
Mouser said the letters identify the commission's intent to capture assessed value in 2027 for the city's several allocation areas, including the north side, south side, east side and northeast TIFs, and the mixed-use and Trian Meadows allocation areas tied to larger districts. Commissioners voted to approve the letters to meet the June 15 deadline.
The staff report and Mouser's explanation clarified the process and the need to coordinate with the county auditor so the software reflects the commission's intent for taxes payable in 2027. The motion to send the three letters carried by voice vote with no opposition noted.
