TIFs & RIDs

Townships in Ohio are permitted to establish special districts which serve as important economic development tools. These tools are enacted by a local government and can be used for public infrastructure improvements directly impacting the district from which the funds were collected. Improvements traditionally permitted to be funded by a TIF or RID are listed in the Ohio Revised Code Section 5709.40. The term for a TIF/RID is typically 30 years and exempts 100% if the value.

Tax Increment Financing (TIF)

Tax Increment Financing Districts are geographic districts established in commercial areas throughout the Township.

A TIF allows a local government to divert a portion of property tax receipts to pay for specific infrastructure and public improvements impacting the district from which the funds were collected. The taxpayer whose property resides in a TIF pays the same amount in taxes as they would if the TIF were not in place. Payments derived from the increased assessed value of any improvement to real property beyond the original value are directed towards a separate fund to finance the construction of public infrastructure defined within the TIF legislation.

Residential Incentive District (RID)

Residential Incentive Districts are geographic districts established in residential areas throughout the Township. A RID allows a local government to divert a portion of property tax receipts to pay for specific infrastructure and public improvements impacting the district from which the funds were collected. The taxpayer whose property resides in a RID pays the same amount in taxes as they would if the RID were not in place. Payments derived from the increased assessed value of any improvement to real property beyond the original value are directed towards a separate fund to finance the construction of public infrastructure defined within RID legislation.

TIF graphic (2)

Legislative Process

Local jurisdictions seeking to establish a TIF or RID project must do so by formal resolution enacted by the Board. The TIF/RID may also require local school board approval if the TIF/RID exemption is greater than 75 percent or has a term in excess of 10 years. 

TIFs and RIDs in Liberty Township

In Liberty Township, TIFs and RIDs, have supported infrastructure improvements and facility projects in line with the community's vision. Those projects that have been completed to-date are listed below:

  • Construction of Liberty Township Fire Headquarters (Station 113)
  • State Route 747 & Princeton intersection improvements which paved the way for development of Walgreens, UDF and Princeton Landings retail center. 
  • Construction of Fire Station 111 on State Route 747
  • Intersection & roadway improvements at Kyles Station and State Route 747
  • Construction of the Liberty Way Interchange & Liberty Way roadway improvements that opened up 600 acres for commercial development
  • Collaborated with Butler County Engineer's Office on the roundabout at Cincinnati-Dayton Road & Kyles Station Road.