Tax Increment Financing is a state authorized incentive that cities may use to help pay for infrastructure in blighted and substandard areas. TIF is utilized as a tool to stimulate economic development in the designated blighted and substandard areas. When a property is improved, its assessed property value (APV) increases. This increase results in increased taxes on the property. The City’s Community Development Agency can allow a property owner to invest up to 15 years worth of the tax increase they pay back into improvements needed for their project, this is called Tax Increment Financing.
For more information about TIF please see the FAQs (PDF) or the policy document (PDF).
For a map of existing blight and substandard areas, please see the attached map (PDF).
Creating an Application
To apply for financing, please fill out the TIF application (PDF) and return it to:
City of Columbus
2424 14th Street P.O. Box 1677
Columbus, NE 68602-1677
Office Phone: (402) 562-4233
Cell Phone: (402) 363-1610