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What is Tax Increment?TIF is a financing tool used by local government that provides <br />a portion of the taxes generated from the "new" development to pay for the <br />extraordinarycosts of that "new" development. The original objective outlined in the <br />Minnesota TIF law is to provide employment opportunities, to improve the tax base and <br />to improve the general economy of the State. In a TIF financing project, the property <br />taxes (existing and new) are paid by the developer. For the new taxes (increment) the <br />City controls where the dollars are spent and determines which public costs are eligible <br />for reimbursement. <br />� <br />� <br />� <br />� <br />a <br />� <br />� <br />� <br />TIF Assessed Value (AV) Over Project <br />�� �� �� <br />25 year TIF <br />� erminated <br />� <br />