Commissioner Jeff Barth sent this information to me from the county’s equalization office;
The combined worth of TIF’s in Minnehaha County is $91,326,856. Of this number the base value (Number that is taxed and distributed to all entities) of $28,861,936 is subtracted from the total leaving $62,464,928 that is considered increment value and is taxed and used to pay off the Increment Districts. I can show you individual projects if needed. TIF’s are in the County, Sioux Falls City, Brandon City and Dell Rapids City.
It’s still strange to me that the County and the School Districts had no say whatsoever in being robbed of over $62M in tax base. How can that be legal?
The county needs more tax partition. The area economy is just about best but there’s lots of homeless & working poor. Money Huether gives for developer landscaping must be redirected into the county for social services.
Tom, has to do with state law, I believe.
I’m curious how much revenue the sharing entities are missing out on?