Terrell, Texas

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Tax Increment Finance Zone #1

 

City of Terrell

201 East Nash
Terrell, TX 75160


For more Information Contact:

Mike Sims: Assistant City Manager

972-551-6600

Or

Steve Rogers: City Engineer
972-551-6607
Fax: 972-551-6682
E-mail:  engineering@cityofterrell.org


Office Hours:
Monday - Friday:  8 a.m. -5 p.m.

Click on image for larger map

TIF Development Map

 

 

The Terrell Tax Increment Finance Zone was created through an interlocal agreement between the City of Terrell and Kaufman County.

 

Tax Increment Financing (TIF):

 

  • Creates a Tax Increment Reinvestment Zone (TIRZ)
  • Uses the projected rise (increment) in property tax values to finance infrastructure or development improvements
  • Allows future ad valorem revenue to pay for the construction of public infrastructure improvement
  • Provides an economic stimulus that can be used to attract development or redevelopment in areas that currently are currently undeveloped

 

Increased tax revenue from the rise in property tax is deposited in a TIF fund, which is then used to reimburse costs for infrastructure improvements or to reimburse developers for specific costs on improvements made. Terrell will contribute 75% of the taxes captured; Kaufman County has pledged 50%.

 

The Tax Increment Finance funds are used exclusively for public improvements.

 

The Terrell Tax Increment Finance zone includes more than 4000 undeveloped acres. The Project Plan calls for a maximum of $158,500,000 in public improvements
over the 30 year life of the TIF.

 

Use the links below to view a map of the development area and/or to download an application form for projects within the zone.

 

 

Ground breaking picture

 

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City of Terrell Logo - Building a Better Community
City of Terrell
201 East Nash St.
P.O. Box 310

Terrell, Texas 75160
972-551-6600
Metro: 972-524-3332
After Hours Repair Services: 972-551-6622
Fax: 972-551-6682

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