Gainesville City Council approved three requests Tuesday for tax allocation district funding. Gainesville has two tax allocation districts — the midtown area and Lakeshore Mall — wherein increments in property taxes resulting from new growth are reinvested in properties. After establishing a baseline of property taxes owed, any increments resulting from an increase in property value is pumped into the TAD account and reinvested in improvements.
Gainesville City Council OKs tax district funding