Does urban renewal increase property taxes?

No, urban renewal simply allows for the reallocation of growth on taxes to the urban renewal agency rather than the overlapping taxing districts. Taxpayers within the city will see a line item on their property tax statements for urban renewal. The overall tax bill does not increase, but the allocation of revenues received from the payment is changed as a portion of that payment now goes to urban renewal. This is called “division of taxes” and is the administrative way that assessors must show the calculation of the tax increment revenue.

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1. How is an Urban Renewal Plan financed?
2. How does Tax Increment Financing work?
3. What is Maximum Indebtedness?
4. When does it make sense to use urban renewal?
5. What can urban renewal pay for and what can it not pay for?
6. Does urban renewal increase property taxes?
7. How does “Tax Increment Financing” affect overlapping taxing districts?
8. What about schools?
9. How is an urban renewal area created?
10. What are the steps to amend a TIF area/plan?
11. What types of projects are typically completed?
12. How has urban renewal been used in Oregon City?
13. What are the benefits of TIF?
14. Why was the Urban Renewal Plan amended?
15. How long does an urban renewal plan last?
16. What are some examples of how urban renewal has been used elsewhere in Oregon?
17. What About the Downtown / North End District?
18. What do I do if I have more questions?