The Washington Redevelopment Commission approved removing nearly 800 parcels of residential property from the City’s economic development areas known as TIF districts.
The action received approval from the City Council at the January 23 Council meeting. A TIF district is designed to allow citys or counties to capture taxes on increased economic development in a TIF district to use for infrastructure or other economic development projects without putting those projects on the general tax roll. By removing the residential properties from the City’s southwest and southeast TIF districts Washington could recapture approximately $167,000 to put toward economic development projects without affecting the average taxpayer.