Tax Increment Financing - TIF

The City of St. Albans has been approved by the State of Vermont to use tax increment financing (TIF) to fund public projects that are linked to economic development in our community.  The City's TIF district was approved in 2012.  Within this area of the City, substantial portions of municipal and education tax revenues from INCREASED property values are set aside to pay for the debt associated with the public projects.

TIF has become the City's most effective and successful redevelopment tool.  The public improvement projects, approved by voters and financed with tax increment, have enabled and attracted transformational private investment in the City.

The City's FINAL TIF bond will be presented to voters on March 5, 2024.  Below you will find informational documents for the March bond vote, as well as background information on the City's TIF district.

Documents:

Attached Document or FileLetter to Voters for March 2024 Including info on project costs and tax increment. [pdf file]
Attached Document or FileApproval and Application for Substantial Change to TIF District The City's request from 2023 [pdf file]
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