Land Use & Zoning
Oklahoma municipalities use Tax Increment Financing (TIF) districts to fund redevelopment by:
AIncreasing property taxes in the district
BCapturing the increase in property tax revenue generated by new development in the district and using it to pay for public infrastructure improvements that enabled the development✓ Correct
CReducing all taxes in the district permanently
DIssuing bonds backed by state revenues
Explanation
TIF districts freeze property tax revenue at the base year level. As new development increases values, the 'increment' (additional tax revenue above the base) is used to finance public infrastructure.
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