Tax Allocation Districts (TADs) are used nationwide as an economic development incentive to attract quality development to an underutilized or distressed redevelopment area. Georgia’s Redevelopment Powers Law gives local governments the authority to sell bonds to finance infrastructure and other redevelopment costs within a specifically defined area. The bonds are secured by a “tax allocation increment,” which is the increase in property tax revenues resulting from the redevelopment activities taking place within the TAD. Tax increment financing allows local governments to charge the costs of constructing public facilities and infrastructure directly to the businesses that use them, rather than the public at large. In return, the businesses benefit from the construction of facilities that might not otherwise be available to them.
Gwinnett County’s TADs are:
For more information on Tax Allocation Districts, please contact the County, city governments or click here.