On Tuesday, Columbia County citizens will have the opportunity to vote on whether or not to allow Columbia County to exercise redevelopment powers under the Georgia Redevelopment Powers Law.
This law would allow the Board of Commissioners to establish Redevelopment Areas in regions of the county that are in need of development, redevelopment or revitalization. The commissioners would also have the ability to create a Tax Allocation District (TAD) within a Redevelopment Area. Through the installation of needed infrastructure, the building or renovation of buildings and other facilities and/or the removal of blight in the area, our community will benefit greatly from the Redevelopment Powers Law.
When a jurisdiction experiences redevelopment or new economic development, typically the value of taxable properties in that jurisdiction increases, and tax revenues collected from these properties increase. TADs work by capturing the incremental tax revenues gained from this increase in property values in a pre-designated geographic area, and these funds are used to retire debt or to fund further improvements on a pay-as-you-go basis. A number of Georgia counties use this financing tool. ...
The Columbia County Chamber of Commerce, on behalf of business owners who will be impacted positively by this referendum, favors the ability to define Tax Allocation Districts and urges you to vote "yes" for the referendum. The Redevelopment Powers Law will be an asset to the county for many years to come.
Chamber of Commerce
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