DevelopOhio

Last week, the Granville Village Council discussed a resolution to create a Tax Increment Finance (TIF) district surrounding a proposed assisted living facility that would divert an estimated $1.87 million in new property tax revenue over 30 years into a new fund, the Newark Advocate reports. The council would use the money for "various public works improvements." During the discussion, some expressed concern over the possibility that "taxing districts that don't get the new revenue would seek additional tax mills in the future, thus raising property taxes," the article said. For more, read the full story.