Joplin Tax Increment Financing District Meeting
By: Drew Moore
Updated: November 30, 2012
JOPLIN, MO.--- R-8 School officials met to discuss the latest proposal from city leaders regarding the formation of the 'Tax Increment Financing' district, or 'TIF'. The tax district would help fund more than $800 million of proposed projects in the tornado damaged area, and parts of Main Street in Joplin. If the TIF district is formed, all revenue received in the district from property taxes, including the new school tax levy, and a portion of sales taxes would go directly into the 'TIF' fund, leaving less tax revenue for Joplin schools.
City officials have offered to give the district $12 million, and pay an additional $2,500 a year for each new student who moves into the 'TIF' district. School officials worry that offer could leave the school system short of money if they needed to build new facilities to house more students.
City officials have offered to give the district $12 million, and pay an additional $2,500 a year for each new student who moves into the 'TIF' district. School officials worry that offer could leave the school system short of money if they needed to build new facilities to house more students.
"If we aren't receiving revenues off of the properties that are within the tif zone that would typically follow the students than where are those funds going to come from. that's been our big challenge that we've been working really hard with the city," states Dr. C.J. Huff, Superintendent Joplin Schools.
In order for the tax district to be formed this year, the city council will need to approve the measure by December 14th.
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