Welcome
In November 2004 North Carolina’s voters approved a constitutional amendment intended to facilitate the use of tax increment financing (TIF) in North Carolina. (The implementing legislation labels this form of financing “project development financing.”) The amendment was challenged in court within a few months, but thus far that challenge has been unsuccessful.
North Carolina’s cities and counties have not made a great deal of use of this new form of financing. As of the end of February 2008, only one project has gone to market, although two others are quite close to doing so.
This website is intended to provide information about the usage of tax increment financing in the state. The site includes these features, each of which can be reached by the menu on the left side of this page:
- A Local Finance Bulletin that sets out a detailed explanation of tax increment financing as authorized for North Carolina.
- Two 2008 capstone papers from the School of Government’s masters program in public administration, one suggesting the elements of an effective policy for using TIF and the other exploring why North Carolina local governments have not made more use of TIF.
- The constitutional amendment, the TIF legislation, and a summary of the changes in the legislation since its initial enactment in 2003.
- A summary of and materials from the court challenge to the legality of the constitutional amendment.
- Materials on TIF from the North Carolina Local Government Commission.
- Detailed materials from each TIF project undertaken in North Carolina.
- Frequently asked questions about TIF (forthcoming).
- Links to national TIF information.
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