TID Number 2

This district is closedTIF 2

Base Value (1994)$1,681,600
Current Value (2016)$8,901,500
Original Property Taxes$46,900
Current Property Taxes (2016)$244,439
Property Tax Increment$197,539

TID Expiration Date: 2014

Tax Incremental District Number Two saw a decline in both appearance and values of properties within the District. This led to the declining tax base and falling revenues for the City prompting the establishment of Tax Incremental District. In addition, a number of properties within the District were blighted or in need of dire redevelopment. Over seventy-four percent of the real property in the District was considered blighted. Many of the structures were non-conforming uses and not consistent with the City's Master Plan. The mixture of land use and property types hindered the City's ability to deliver basic services and provide public safety.