Does a TIF district really decrease resident tax burden?
Falmouth currently has four commercial TIF districts
2021-2022 Town Budget
The 2021-2022 Municipal Budget is up 9.8% over 2020-2021.
Falmouth is proposing a fifth TIF (Rt. 100)
The proposed Rt. 100 TIF district will consist mostly of residential properties, including sixty-eight new multi-bedroom homes, twenty new condos, and another five homes in the queue for the Planning Board.
2022-2023 Projected Town Budget
The 2022-2023 Municipal Budget, as presented, up 18.9% over 2021-2022.
Where do TIF funds go?
TIF districts redirect property taxes into a special account that is NOT ALLOWED to fund Schools, Fire Dept, EMS, Police Dept, Public Works, or Recreational and Open Spaces.