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Consultant outlines Tax Increment Financing (TIF) district options and statutory limits
Summary
At its April 2 work session Greenland's Planning Board heard from consultant Mark Fougere on the mechanics of Tax Increment Financing (TIF) districts under NH RSA 162-K, including how incremental tax revenue can fund capital improvements and statutory constraints on district size and assessed value.
Mark Fougere, the Planning Board consultant, briefed members on the mechanics and statutory constraints of Tax Increment Financing (TIF) districts under New Hampshire law (NH RSA 162-K) at the April 2 work session.
Fougere explained that a TIF district captures increased tax revenue generated by new development within the district; that increment is then used to fund capital improvements or pay off bonds without reducing the town's general fund revenue. He outlined statutory restrictions that limit district size—districts must typically be under 10% of the town's land area and 16% of assessed value—and noted other statutory requirements such as advisory-board composition and reporting obligations.
Board members discussed challenges in selling TIFs to the public, the importance of transparent planning and advisory boards, and the need to explain the long-term trade-offs of captured increment to residents. Examples were referenced in which TIFs in other towns enabled infrastructure and economic development projects.
No formal action to create a TIF district was taken; the discussion was framed as an informational briefing to guide possible future steps.
