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How much do TIF Funds cost the schools?

TIF funds are modified property taxes.  The money in a TIF fund is money that normally would be paid to the schools, police and fire funds, libraries, parks etc. 
My son and I went to the Montgomery County Auditors webpage found the tax levy distribution breakout and then created an Excel file so that we could calculate how much of the money the new Family Dollar (Brandt pk)  and the new Assisted Living Facility (on Bellefontaine) will be going to the city instead of the schools. 

You can download the file we created and see our results and then manipulate the numbers yourself. (post council meeting version)  

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The good part about Wednesday is that I'll have time to write again.

Last week I was sent the 2003 Ordinance that set up the original Montgomery County TIF district.  This is a 30 year TIF and the Huber Heights City Schools only get 25% of what they normally would get.  But the language in this ordinance is very confusing.  In fact, Montgomery County distributed the money wrong at first and the school was on the short end of the audit and ended up having to give the city $283,000 because of Montgomery County's mistake.
 
I also received the 2005 Ordinance that set up the Miami County (Carriage Trails) TIF.  Here the Bethel Schools receive all (100%) of what they normally would get.
 
The recent Alcore, Family Dollar and Trimble TIF ordinances are online at the city's website.  The Bethel and Huber Heights City Schools only get 30% of what they normally would get in each of these. 
 
Can't wait to write more later in the week. 

Tax Levy Distribution
 

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