The City of Des Moines plans to give 100% of the revenue from a TIF (Tax Increment Financing) district to property developers. The price tag for this development could reach $1 billion. Is that fair? ITR Foundation President is a student of TIF and has answers to some very basic questions: Is there any evidence to show that this will boost overall economic activity, and are these incentives really necessary? Will individual taxpayers benefit in any way?
ITR Policy Director Sarah Curry is in studio to talk about how NOT to do property tax relief. Nebraska has a convoluted system of income tax credits meant to offset local property taxes. Amazingly, the majority of Nebraskans don't even claim the credit. When it comes to tax policy, simpler is better. As Iowa looks at property tax relief, what lessons can we learn from our neighbors to the West?
