Part one of a two-part series, "The TIF Game"
Put an addition on your house, and the town assessor will come around, increase the value of your house and your property taxes will go up.
Put up a new store or factory, and the same thing will happen.
The greater the value of your property, the more you pay into the town coffers. That’s the money the town and school districts use to plow the streets, operate the police department and pay the teachers.
That’s how property taxes work for everyone – well, almost everyone. One select group gets a better deal because it has something called a TIF. And only a few select businesses have them in most towns.