Page 143 - City of Kennedale Adopted Budget FY22
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TAX INCREMENT REINVESTMENT ZONE (TIRZ) PROJECTS
Tax Increment Financing (TIF) is a tool authorized by Chapter 311 of the Texas Tax Code by which
local governments can publicly finance needed structural improvements and enhanced infrastructure within
a defined area – a Tax Increment Reinvestment Zone (TIRZ) – to encourage desired development.
The tax increment is derived from the difference in appraised value between the year in which the
reinvestment zone is established (base year) and each year the reinvestment zone is in existence.
FUND BUDGET: TIF #1 NEW HOPE ROAD FUND
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