Steps Set TIF Participation Rates

Navigate:ClosedTax > Levy Management > Setup > TIF Districts > Search for TIF Districts > Maintain TIF District Details > [Participation] >  Maintain TIF Participation > NEXT > Set TIF Participation Rates

OR

Tax > Levy Management > Tax Entity Maintenance > TIF Districts > Search for TIF Districts > Maintain TIF District Details > [Participation] >  Maintain TIF Participation > NEXT > Set TIF Participation Rates

Description

For each fund in the TAGs and authorities that participate in the TIF district, set the percentage of the incremental levy that will go to the TIF district. The default participation rate is 100%. Or, you can enter the percentage that will remain with the tax authority as the percentage that will be excluded from the TIF district. Note that not all jurisdictions have TIFs.

SETUP: See Levy Management, Levy Management Setup, and TIF Districts for any applicable prerequisites, dependencies and setup information for this task.

Steps

  1. Select the Tax authority group.

  2. Enter the Excluded Rate for each tax authority fund. The Contribution Percentage is calculated automatically. If the fund is participating fully in the TIF district, you do not need to change anything.

    Repeat the previous applicable steps for each TAG participating in the TIF.

  1. Click Finish to save the participation rates and return to Maintain TIF District Details.

    • Click Cancel to return to Maintain TIF District Details without saving.

Tips Tips

If a fund is not participating in the TIF district at 100%, the incremental value will be multiplied by 1 minus the participation percentage and the resulting amount will be added to the base value. The charges calculated from that value will go to the fund.

This step does not apply if TIF charges will be calculated using a secondary tax calculation rule.