Well, what happens in those situations is the local governments, they don't actually cut their budgets. They don't lose $0.01 if they give a TIF instead. What happens is that The tax burden from 3 to 4 billion dollars worth of land value in this state is passed on to everybody else. is passed on to homeowners in the state. And so when you've got people who are struggling to stay in their homes, South Dakota, because of high property taxes, for … (15:19–15:29)
CLAIM
Asserts that the tax burden from TIFs is shifted to other taxpayers.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
