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Gainesville City Council OKs tax district funding
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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.