What In The World Is Tax Increment Financing?

Jul 21, 2017

Credit One Big Sky Center

The Billings City Council will decide if they’ll grant an extension on a development agreement between the city and the developers of One Big Sky Center project Monday. The agreement will determine how much tax increment financing (TIF) they'll get the go ahead to work with.

But what exactly is TIF? The developers of this project are seeking up to $35 million of it to support a multi-purpose structure downtown.