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Tax Increment Financing (TIF)The city of Las Vegas Redevelopment Agency (RDA) is offering Tax Increment Finance (TIF) rebate incentives for high-rise residential, retail, hotel and mixed-use projects located within the Las Vegas Redevelopment Area. The Redevelopment Area consists of approximately 3,948 acres that generally includes downtown Las Vegas, as well as portions of West Las Vegas and along Eastern Avenue. Tax Increment is defined as the increased property taxes generated due to new development on a site. The TIF program uses tax money from the difference in the originally assessed property value and the new, enhanced property value to pay for eligible qualified expenditures. Up to 41 percent of the Tax Increment can be rebated annually to a property developer for eligible qualified expenditures to a construction project. Eligible expenditures may include constructing streets, curbs, gutters, water lines, storm drainage facilities, traffic signals, paving, sidewalks, flood control improvements, utilities, other infrastructure costs and more. While the term for TIF rebate assistance is negotiable, the rebate cannot extend past the life of the agency or more than 20 years. The agency’s maturity date, required by Nevada state law, is in the year 2031. For more information, please e-mail or call (702) 229-6100. |
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.Contact Us
Scott D. Adams or Bill Arent City of Las Vegas Redevelopment Agency 400 Stewart Ave. Las Vegas, NV 89101 Phone: (702) 229-6100 Fax: (702) 385-3128 Business Hours: Monday to Friday, 8 a.m. to 5 p.m. (Pacific Time) |