Local incentives for financing

Tax Increment Financing (TIF) is an economic development tool that assists in financing public infrastructure improvements and, in certain circumstances, residential rehabilitation.  A TIF works by locking in the taxable worth of real property at the value it holds at the time the authorizing legislation was approved.  Payments resulting from the increased assessed value of any improvement to real property beyond that amount are directed towards a separate fund to finance the construction of public infrastructure defined within the TIF legislation.

Authorized by Ohio Revised Code sections 5709.40, 5709.73 and 5709.78

Community Reinvestment Areas allow for local real property tax incentives for residents and business that invest in designated areas of Ohio. Real property investors meeting the local criteria thresholds must apply to the county for the real property tax exemption. Tax exemption on real property only (up to 100%).

Authorized by Ohio Revised Code section 3735.65

See existing Community Reinvestment Areas in Delaware County >

The Enterprise Zone program provides real property tax incentives for businesses that expand or locate in Ohio (and may provide personal property tax incentives for those qualifying businesses that continue to pay personal property tax). Non-retail business must apply prior to making the investment.

Authorized by Ohio Revised Code section 5709.61

See existing Enterprise Zone agreements in Delaware County >