Land Use & Zoning
A South Carolina TIF (Tax Increment Financing) district allows a municipality to:
AIncrease property taxes only in that district
BUse future tax increment from rising values to fund redevelopment improvements✓ Correct
CTemporarily reduce taxes to attract development
DTransfer taxes collected to a state fund
Explanation
TIF captures the increase (increment) in property tax revenues resulting from new development in a designated district and uses those funds to finance public improvements that support the redevelopment.
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