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The Tax Increment Financing (TIF) method has achieved widespread popularity as a funding source to finance local infrastructure investments and improvements. However, little research has been conducted to evaluate the effectiveness of such programs. This study undertakes a regression analysis to examine the effects of the municipal adoption of TIF programs on local economic development. The empirical results suggest that the adoption of TIF programs has a significant positive effect on local employment.

Local governments use taxes on future increases in property values to pay for current economic development through tax incremental financing (TIF). TIF is a powerful tax tool used to spur improvements to a designated area. Proponents of TIF argue that it allows local governments to make investments without affecting previously established government and school district programs. Detractors argue that because the TIF designation denies existing overlapping districts (e.g., schools) the benefits of increases in property values, TIF can have a negative impact on a community. Empirical evidence on the economic and fiscal effects of TIF is mixed. This paper describes the potential costs and benefits associated with the use of TIF and then summarizes prior research on outcomes associated with this widely used property tax program.

Tax increment financing (TIF) has been adopted widely by municipalities to promote local economic development. This study aims to examine the effect of TIF adoption on property values at the parcel level in Indiana from 2009 to 2016.

Concerns of TIF adoption endogeneity are addressed by a two-stage estimation process using urban population ratio and unemployment rates as instruments.

In addition to finding influential socioeconomic and demographic factors, the results suggest that parcels located within TIF districts were sold more than parcels outside of TIF districts by approximately $5,000. Such premium is mainly picked up by the positive effect on commercial and agricultural parcels, which outweighs the negative TIF impact on residential types.

Arm’s length transaction data on property value are used to eliminate the subjective assessment bias, potential calculation errors during the evaluation process and econometric issues caused by using the assessed value.

This paper aims to present the theoretical and conceptual framework of a new method in public finance called “participation based tax increment financing (P-TIF)” by combining conventional tax increment financing (TIF) within the Sharīʿah-compliance structure.

This study develops a benchmark model for P-TIF, which offers a participative contract between both lender and borrower. With the help of this model, a financing schema in P-TIF is established by incorporating stochastic modelling. Possible implications and alternative options of application are also explored with a discussion of challenges.

The results mainly indicate that P-TIF promises lenders to be a part of increment from tax earnings, in return for a reduced interest rate. They show how a rise in participation of the lender in a given contract lowers the interest rate. Under the base case scenario, the interest rate is reduced to zero when the participation of the lender in tax increment is set at 50%.

With the feature of being interest-free, P-TIF can be implied also within the Sharīʿah-compliance framework, thanks to the model it is based on. Additionally, as the model in this paper is parametric, it can be applicable to various cases in Islamic finance.

To the best of our knowledge, this is the first paper in the literature in the sense that it provides a conceptual idea and respective model for TIF method within a Sharīʿah-compliance framework.

One of the most popular economic development incentive tools used today is Tax Increment Financing (TIF). Proponents of TIF argue that these incentive programs have fostered new investment and increased property tax revenues in areas that would otherwise have experienced negative growth. Opponents argue that TIF is now used in non-blighted areas-on projects that could have been completed with no special government subsidies. This paper describes a number of perverse incentives that are inherent with TIF projects. It then outlines a comprehensive framework for estimating the net future fiscal impacts with and without proposed TIF projects for all affected jurisdictions. Finally, it illustrates how the framework can be used to reach better economic development policy decisions at both the state and local levels.

The purpose of this paper is to draw out interesting nuances and lessons when using a Tax Increment Financing (TIF) model in San Francisco given the abandonment of California's redevelopment agencies (RDAs) created via TIF funds.

This research is based on secondary literature review, desk-based study and primary interviews with professional interviewees that have been heavily involved in TIF projects in San Francisco over the last decade.

The abolition of the RDAs in California may be inadvertently cutting-off the principal supply of funds for redevelopment that includes much needed affordable housing.

Reflective lesson learning for the management of land and property development in the USA and UK. Particularly with respect to funding mechanisms and agencies that can implement and develop affordable housing.

This article intends to shine a light on venue-related tax increment financing (TIF) through the first comprehensive inventory of its use at the major league level.

For each 2018 venue in the five North American major leagues, data was collected on TIF contributions to direct venue capital costs as well as to projects using TIF to enable real estate development ancillary to a venue. Neighborhoods surrounding a venue were also assessed for the presence of a TIF district. With both the direct and ancillary elements, data was collected from government, industry, academic, mapping and media sources. A review of this data set and findings are followed by a discussion of implications and directions for future work.

Over one-third of the TIF eligible permanent stadiums and arenas studied in the five major leagues have a direct or strong TIF connection. Direct TIF contributions to sports venues, as well as TIF use intended to generate real estate development around these venues, are most frequent and financially significant in arenas and soccer-specific stadiums. Additionally, arena and stadium projects using TIF often accompany ancillary real estate development.

A primary purpose of this article is to provide a previously missing general reference resource to governments and citizens of jurisdictions considering facility TIF use on the scope, nature, extent and identity of TIF projects related to major league sports venues. More generally, the inventory and assessment of TIF use in professional sports venues offered by this article sets the stage for future research on associative relationships between TIF contributions and facility finance outcomes as well as the normative value of venue-related TIF.

The purpose of this paper is to examine the potential of tax increment financing (TIF) as a viable financial mechanism for urban regeneration programmes in Nigeria. This is with a view to engendering a sustainable, productive and competitive urban land market towards enhancing the economic development of the country.

This paper adopts a desk-based study approach and review of secondary literature on urban regeneration and TIF to examine the usefulness of TIF for funding local infrastructure development. It then examines the key requirements for the successful application of TIF as a financial instrument for urban regeneration in an emergent economy like Nigeria.

A number of key requirements for a successful TIF programme particularly in the context of an emergent economy are identified. These are: a functional urban land market with well-developed and documented market indices on performance measurement to serve as reliable benchmarks for investors; an established land use planning system consisting of clear rules and effective decision-making processes; an active capital market that is accessible to institutional and private developers; a viable tax administration system and most importantly an efficient institutional framework with clearly defined formal property rights and sound enforcement mechanisms to monitor contractual agreements and to police deviations.

This paper represents a pioneering attempt at examining the prospects of the application of TIF to urban regeneration in the specific context of an emergent Sub-Saharan African country.

The purpose of this paper is to explore the application of a profit and loss sharing approach to tax increment financing (TIF) districts in the USA.

A survey based on this approach was distributed to representatives of community redevelopment authorities (CRAs) in the State of Florida to ascertain practitioner feedback.

Although a majority of the respondents did not feel it was possible for political, economic and legal reasons, some did feel that it was a practical, reasonable and sustainable approach to financing projects for economic development. Some responses were correlated, with others indicating that certain beliefs framed their answers to the questions.

The surveys were only distributed to CRAs in the State of Florida. Future research will need to include other CRAs in other states to make the findings more generalizable. In addition, the results are merely descriptive and are not an assessment of a successful application.

The need for more development in blighted areas of many cities across the USA will put emphasis on innovative approaches in financing this. The growth of Islamic finance in the USA and the regulatory framework for it might open a doorway for its application in this area.

This is the first attempt to apply an Islamic financing methodology to local economic development in the USA, with practitioner feedback.

Purpose: This paper contains an evaluation of the results from a survey on ISO 9000 certified hotels in Egypt. This study is focused on factors influencing the choice of the registration agency; problems with registration agencies; satisfaction level with the registration agencies and the use of training and consultancy in achieving the certification. Design/methodology/approach: Postal survey was used in this study to gather the required data from a sample size of 40 certified large hotels in Egypt. The sample was drawn from a list provided by ISO 9000 certification office in Egypt. A response rate of 60 per cent was achieved. Findings: The certified hotels in Egypt performed well in their registration process and benefited from ISO implementation. They were using their registration agencies for private consultancy and it has been recommended that they should avoid using their registration agencies for private consultancy as this creates conflict of interest and constitutes a violation of ISO 62. Originality/value: Adds to the body of knowledge concerning the ISO 9000 registration agencies in the service sector with particular focus on Egypt.