Tax Increment Financing (TIF)

Additional Incentives

Overview


Tax increment financing (TIF) is an economic development tool used to incentivize private development, public infrastructure design/construction, and more. TIF earmarks the future real property tax increases within a designated project area (TIF District) to help finance public infrastructure improvements, to fund economic development incentive programs, or to help finance private development projects within the TIF District. TIF is NOT a new tax or special assessment on top of the existing property tax. TIF can be used to finance a variety of projects – developers may utilize TIF to gain more attractive borrowing rates or to help close financing “gaps.”

For more information contact the Economic & Community Development Department at 860-584-6185 or email ecd@bristolct.gov.