Staff: developer incentives and tier zones will redirect millions from general fund
Staff told council that tier zones and sales‑tax rebates capture substantial incremental tax revenue—about $3M this year and $3.5M next year—reducing net property‑tax receipts available for general‑fund operations.
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City budget staff separated gross property‑tax receipts from developer incentive captures and showed how incremental tax revenues are transferred to tier zones and sales‑tax rebate agreements. Matt (S5) said the current year’s tier payments are about $3.0 million and next year’s are budgeted near $3.5 million.
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