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**** 68th Legislature 2023SB 505AN ACT REVISING LAWS RELATED TO THE CALCULATION OF TAX INCREMENT FOR DISTRICTS THAT USE TAX INCREMENT FINANCING; CLARIFYING THE APPLICABILITY OF EXCLUSIONS FROM TAX
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Tax increment is a tool used by local governments to finance redevelopment projects.
Property owners and developers are typically required to file tax increment financing documents.
Tax increment forms can be filled out online or submitted in person at the local government office.
The purpose of tax increment financing is to promote economic development in blighted or underdeveloped areas.
Tax increment reports typically include project costs, expected revenues, and projected impact on property values.
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