Tax Increment Financing (TIF) Information

Since 1996, Unity has had a Tax Increment Financing District in which investments that increase property assessment are held in a special fund to be used for eligible economic development purposes. In January, the District was amended and extended to its maximum term thru 2026. An Omnibus Economic Development Program outlining eligible TIF fund expenditures was approved by both Town Meeting and the State Dept. of Economic & Community Development. One of the EDC's jobs is to recommend the best uses for TIF funds within the approved program each year. Funds are ultimately budgeted at Town Meeting, with specific expenditures approved by the Board of Selectmen. 

In January the Town also approved Guidelines it would use to consider any new TIF District applications that might be requested by a party proposing a major property investment (likely $500,000+).