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Vermont Life Magazine
Vermont Life Magazine

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Tax Increment Financing

Tax Increment Financing Districts have been available in Vermont as a financing tool for municipal infrastructure for many years. The program has undergone many changes through the years, especially since the introduction of a statewide education property tax.

Generally, a TIF District is established by a municipality around an area that requires public infrastructure to encourage public and private real property development or redevelopment. The property values at the time the District is created are determined and the property taxes generated by that original value continue to go to the taxing entities (municipality and state). The municipality incurs debt to build public infrastructure, the real property development and redevelopment occurs, and for a limited time, seventy-five percent of the incremental municipal and state property taxes that are generated are used to pay the infrastructure debt and twenty-five percent continues to go to the taxing entities (municipality and state). After the twenty-year property tax retention period, 100% of the property taxes generated go to the taxing entities. A municipality may create a TIF District by following statutory requirements and utilize only municipal property tax revenues. If the municipality requires the utilization of incremental state education property tax revenues, further statutory requirements apply, including the requirement to apply to the Vermont Economic Progress Council to obtain approval of a TIF District Plan and a TIF District Financing Plan.

TIF District Program Information

TIF District Intent to Apply

TIF District Application

TIF District Annual Filing

  • Annual Filing Instructions (Coming Soon!)
  • Annual Filing Forms (Coming Soon!)


TIF District Applications

TIF application Public Comment Form

VEPC Resources




Fred Kenney, Executive Director
Vermont Economic Progress Council
Department of Economic Development

Telephone: 802-828-5256
email: fred.kenney@state.vt.us


Jayna Jones, Executive Assistant
Vermont Economic Progress Council
Department of Economic Development

Telephone: 802-828-5765
email:jayna.jones@state.vt.us

 
 







 

The small state of Vermont boasts a rich and rewarding historical heritage. Today, that history is well preserved in an exceptional collection of state historic sites stretching the length of the state. Ranging from precontact encampments, to pivotal Revolutionary War sites, to the private homesteads of U.S. presidents, Vermont's historic sites chronicle the development of a state, its people and the nation around it.




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