Tax Allocation Districts

Tax Allocation Districts (TAD) are established for the purpose of catalyzing investment by financing certain redevelopment activities in underdeveloped or blighted areas using public dollars. Redevelopment costs are financed through the pledge of future incremental increases in property taxes generated by the resulting new development. Typically, upon creation, TADs have vacant commercial and residential properties, blighted conditions and numerous vacant buildings or are in need of significant environmental remediation.

The 1985 Georgia Redevelopment Powers Law gave additional powers to local municipalities in order to facilitate the redevelopment of blighted or economically depressed areas. One of the powers granted to local governments is the ability to issue tax allocation bonds to finance infrastructure and other redevelopment costs within a tax allocation district.

 

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