Tax Increment Financing is a tool available to local governments to finance needed public improvements within a defined area. The Town of Flower Mound established its first Tax Increment Reinvestment Zone (TIRZ) in September 2005, to provide funds for public infrastructure within the Town’s FM 2499 corridor. The TIRZ consists of approximately 1,465 acres and ad valorem tax revenues collected above the base value established in 2005 will go toward funding proposed improvement projects over a 20-year period.
|
