Tax Increment Reinvestment Zones

What is a Tax Increment Reinvestment Zone?

A tax increment reinvestment zone is an economic development tool available to local governments to finance needed public improvements within a defined area. The improvements usually are undertaken to promote the viability of existing businesses and to attract new commercial enterprises to the area. The cost of improvements to the area is repaid by the contribution of future tax revenues by each taxing unit that levies taxes against the property. Specifically, each taxing unit can choose to dedicate all, a portion of, or none of the tax revenue that is attributable to the increase in property values due to the improvements within the reinvestment zone.

Tax Increment Reinvestment Zones in Flower Mound