Rapid City’s Finance Office is hosting two public information sessions this week to explain how Tax Increment Financing, or TIF districts, work and how they affect property taxes and the city budget.
Finance staff will walk through Rapid City’s 40-year history with TIFs, how the districts are created, the approval process, and their overall impact on city finances.
City officials say the meetings are strictly educational and not intended to debate any proposed TIF districts.
The sessions are open to the public and will be held Wednesday at 2 p.m. and Thursday at 5:30 p.m. in the City Hall council chambers. Finance Office staff will lead the presentations and answer questions.