Rockford’s Oldest TIF Districts Terminated After 35 Years

Rockford Register Star Logo - TIF Districts TerminatedThe City Council approved the termination Monday of a trio of development zones that have collectively spurred investment downtown and in the city’s Midtown District for 35 years.

The end of the East Side, West Side, and Seventh Street Tax Increment Finance Districts means that $11 million in equalized assessed value is being added to city property tax rolls. That means the city will get extra cash in the years ahead to pay for police, fire and other municipal services. It could help reduce your real estate taxes a bit, depending on any changes in property values.

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