Maharishi Vedic City, IA

A TIF (Tax Increment Financing) district is an area where property tax growth is set aside to fund local improvements like infrastructure, redevelopment, and job creation. When a TIF is created, the property tax base is frozen — as property values rise, the extra tax revenue (the “increment”) goes into a special fund for the district instead of to other taxing bodies. TIF districts typically last 23 years.