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Budget office tells commission there is no excess TIF assessed value this year
Summary
Jenny Carter, budget manager in the Office of Finance & Management, told the Metropolitan Development Commission that 2026E003 declares there is no excess assessed value to pass through from TIF areas this year and explained the timeline for final determinations ahead of the 2027 city budget.
Jenny Carter, budget manager with the Office of Finance & Management, told commissioners that state statute requires the MDC to declare the amount of excess assessed value for TIF areas by June 15. She said the resolution before the commission, 2026E003, fulfills that requirement and states there is no excess AV to pass to the base at this time.
Carter explained the assessor does not certify assessed values until June 30 and OFM will determine final amounts in July to align with development of the city’s 2027 budget, with final determinations by August 1. She said any released AV would increase property tax dollars available to other units of government and that OFM traditionally returns with final numbers before year-end.
