Tax allocation districts, otherwise known as TADs, have become a tool used by municipalities to help fund redevelopment efforts around the country. TADs have been a hot issue in Georgia for years now, but with the Georgia Supreme Court’s ruling in February, things will start to heat up.
There’s a lot floating around about TADs and it proves to be a derisive issue over the next few months leading up to the elections in November as the pro-TAD folks will be pushing to add a referendum to the ballot.
For those of us living here in Smyrna Vinings, the future of TADs is of particular interest as the City of Smyrna is a big proponent of the use of TADs for financing of the projects at Jonquil Village and the planned development at Belmont Hills. Homeowners living in close proximity to these areas typically want to see the redevelopment, but may not understand the issue and have not yet formed an opinion.
So the best thing I can suggest, is to read as much as possible on the matter. In that regard, here are some recent articles and resources for your research efforts.
Statewide bid building to save TADS
Study shows TADs are keeping their initial promise
Lessons from a national TAD poster child
TAD bonds backed by future increases in property taxes
No, not every good project merits a TADÂ
Ahead of the curve: Plan to save TADs gets bipartisan push
Hopefully, you will find these articles helpful in understanding the various viewpoints on TAD financing which will help you to follow local debate and public meetings regarding Tax Allocation Districts and TAD financing.
If you have any specific questions, feel free to contact us and we’ll be glad to get back to you.
[tags]Tax Allocation District, Tax Increment Financing, Smyrna Vinings Real Estate, Jonquil Village, Belmont Hills[/tags]
[where: 30080]