TIF Districts Divert $2 Billion Over 20 Years To St. Louis Developers

Photo courtesy of Creative Commons
Photo courtesy of Creative Commons

The use of tax increment finance, or TIF, districts in the greater St. Louis area has diverted more than $2 billion in taxes to private development in the area over the last 20 years.

The findings, based on a May report from Better Together St. Louis, discovered the TIF districts generate more tax revenue and jobs for that particular municipality, but take growth away from neighboring municipalities.

The “widespread use of tax increment financing for retail development and the benefit of individual municipalities is not the recipe for regional economic growth,” the report said.

Read more from St. Louis Business Journal

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