Collection of taxes to support the TIF district in southern Chillicothe will end when the TIF is paid off April 1st. The TIF District, along Business 36, was created under City Ordinance in December of 2004 with pay-off expected in 2027. Chillicothe City Administrator Roze Frampton made the announcement.
Called for the bonds to be paid in full April 1.
Frampton explains what that means for the city and other tax entities.
Sales taxes and property taxes will be distributed.
She described how any reserve TIF funds would be handled.
After fees are deducted, the funds come back to the city.
The additional 1% sales tax collected for the TIF district is also expected to end when the bonds are paid off.