Tax increment financing (TIF) programs help fund projects that aid in the revitalization of Tigard’s two TIF Districts:
- City Center (Downtown) TIF District
- Tigard Triangle TIF District
TIF District programs are funded through tax increment financing generated in each area to fix identified problems in the same area. Each TIF District is guided by a tax increment financing (urban renewal) plan, and are administered by the Town Center Development Agency.
Learn more about Tigard's tax increment financing districts.
Opportunity Zones were created under the 2017 Federal Investing in Opportunities Act and are designed to encourage economic growth and job creation in economically distressed communities. To accomplish this, Opportunity Zones offer investors three tax incentives:
- Temporary deferral: An investor can defer capital gains taxes until 2026 by investing and holding unrealized gains in a Qualified Opportunity Fund, a partnership or corporation organized to invest in designated Opportunity Zones.
- Tax reduction: The original amount of capital gains on which an investor has to pay deferred taxes is reduced by 10% if the Opportunity Fund investment is held for more than 5 years and another 5% if held for more than 7 years, for a total of 15%.
- An exemption: Any capital gains on investments made through an Opportunity Fund accrue tax-free as long as the investor holds them for at least 10 years. For investments held longer than 10 years and upon a sale or disposition of the investment, the investor is allowed to elect the basis in the investment to quality to the fair market value of the investment.
Learn more...
