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Tax Increment Financing
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What reports do we need to file annually to the State Tax Commission?
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Answer:
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- Form 2604 (or Form 2967)
These forms are titled Tax Increment Financing Plan Report for Capture of
Property Taxes and State Reimbursement Amount. Form 2604 is for plans
that have only one school district. Form 2967 is for plans that capture from
two or more school districts.
Plus, for 1994, you were required to
submit the following:
- copy of relevant parts of the plan (see the form
instructions);
- copy of the obligation documents (bonds, contracts,
etc., see the form instructions); and
- copy of payment schedules for the full term of the
obligations/ advances.
- Annual report (AR) as
required by State Tax Commission Bulletin 9 of 1997 (see appendix 3 of the
form 2604/2967 instructions).
- A copy of the assessor's or treasurer's worksheet (ATW) for the authority's tax increment
financing plan district, which was used to determine the plan's tax
increment revenue. This is the worksheet that was used to compute how much
money to send to the authority, and it may be either handwritten or
computed. The worksheet should include:
- millages,
- initial , current , and captured values by property
tax roll (i.e., ad valorem homestead, ad valorem nonhomestead, IFT new, CFT new,
Tech Park, IFT replacement, and CFT restored), and
- he source of tax increment revenue, subdivided by
each millage levied.
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