What is a Tax Allocation District, and how does it work?

Georgia’s Redevelopment Powers Law was adopted by the general assembly in 1985 and gives local governments the authority to sell bonds to finance infrastructure and other redevelopment costs within a specially defined area, known as a tax allocation district or TAD. The bonds are secured by a "tax allocation increment" which is the increase in the property tax revenues resulting from redevelopment activities occurring. As public improvements and private investment take place within a TAD, the taxable value of property increases. The local government collects those revenues, putting the increase due to the new investment into a special fund to pay off bonds or loans that financed the public improvements in the district. 

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1. What is a Tax Allocation District, and how does it work?
2. Where can local governments form TADs?
3. Will I pay a higher tax rate if my property is within a TAD?
4. What does the TAD referendum authorize, and when did it pass in Athens-Clarke County?
5. How is a TAD area created?
6. If the local government decides to create a TAD, how does the School District become involved?
7. How long does a TAD stay in effect?
8. How do private developers benefit from TADs?
9. What is the tax increment?