Special Assessment Finance Resource Center

Special assessment district financing mechanisms are a common development finance tool. A special assessment is an additional tax on a piece of property, generally in the form of real estate taxes. This additional assessment is collected by the local taxing authority and directed to a designated fund to finance projects, improvements or programming for the assessed district. Every state provides some form of special assessment district financing. Most states offer more than one option. These tools are known by a variety of names and can be structured in a variety of ways, but there are two predominant methods.

The first method, Business and Neighborhood Districts, is the assembly of business and neighborhood groups into a district to generate funding for projects and programs. Business and Neighborhood Districts are typically run by property owners in the district. These owners impose self-assessed taxes on themselves in order to generate funds for physical improvements or other amenities.

The second approach, Government Districts, is a directly targeted assessment program organized by local government. Government Districts come in many shapes and sizes. These districts often provide services that are similar in scope to those provided by Business and Neighborhood Districts. However, in these cases, government entities typically direct the work of these districts.

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+Resources

Catalytic Investments for Urban Development Members only

Jeff Miller, Senior Economic Development Advisor at the Rhode Island Commerce Corporation, highlights project examples and discusses the impact that pro-active catalytic investments can make while driving urban development and renewal

Catalytic Investments for Urban Development Members only

George Durante, Transformative Development Fellow at Mass Development, highlights project examples and discusses the impact that pro-active catalytic investments can make while driving urban development and renewal.

Market Update and Virginia Financing Tools Members only

Tax Increment Financing, Special Assessment Districts, Management Districts and Public Improvement Districts have become powerful financing mechanisms to help communities concentrate development opportunities into targeted locations. Laura Radcliff of Stifel and Suzanne Long of Haneberg Hurlbert discuss their experience using these tools in communities across Virginia to catalyze public improvements that spur private investment.

The Latest on TIF in Wisconsin Members only

TIF is perennially one of the nation’s most effective and popular development finance tools, but also one of its most misunderstood and controversial. TIF is a very flexible, with multiple variations as to the specific revenue sources it can generate and the different ways these revenues are used to support project financings. Chris Tscheschlok with Economic Devleopment Washington County discusses TIF case studies from around the state, as well as explore creative ways to maximize this tool going forward.

Village of Mount Pleasant Proposed TID Boundary Map Members only

Andrea Roschke with Von Briesen & Roper shares the boundary map for the Village of Mount Pleasant's proposed TID.

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+Headlines

Communities throughout the country use special assessment finance every day and CDFA collects headlines on projects and news daily.

Special Assessment District for Trash Removal, Recycling Eyed in Bridgman, IN
Harbor Country News | Mar. 26 | Special Assessment Districts | Tax Increment Finance (TIF)

The Kresge Foundation Makes $3M Investment in Loan Program in Saint Paul, MN
Saint Paul Port Authority Blog | Aug. 3 | Energy Finance | Special Assessment Districts

MA Governor Breaks Ground on $47.5M Mixed-Use Project
Daily Hampshire Gazette | Jun. 20 | Special Assessment Districts | Tax Credits

Manhattan City, KS Wants to Create a New Special Assessment District Policy
The Mercury | Apr. 19 | Special Assessment Districts | Tax Increment Finance (TIF)

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+Resources

Special District Finance (SIDs-BIDs-NIDs-TIDS-etc.)
TIF Special Assessment

+Webcast

CDFA // BNY Mellon Webcast Series: Special Assessment Techniques for Transformative Community Improvements Members only

Community Development | Special Assessment Districts | Urban Development | Webcasts

This month’s CDFA // BNY Mellon Development Finance Webcast Series featuring Dr. Laura Wheeler from Georgia State University, Bryant Parker from White Goss, Austin Parker from Fisher, Patterson, Sayler & Smith, and Emily Metzler from MuniCap, Inc. includes a discussion on new and innovative uses for special assessments and how this tool is poised for greater use nationwide.

Georgia Webinar: Utilizing Community Improvement Districts in the Peach State Members only

Special Assessment Districts | State Finance Program | Webcasts

Expert panelists explored the prevalence of Community Improvement Districts projects in Georgia and how they are being used to finance revitalization in communities all of sizes during this webinar.