LUBBOCK, TX (KCBD) - The Lubbock Business park will soon become a TIF or tax increment finance district.
A TIF allows the city to set aside a portion of property taxes collected from the Business Park. That money is then used specifically for improvements inside the Business Park. Theoretically, that makes the property even more valuable and so the city collects even more property taxes.
City council takes up the matter on Wednesday.
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