What is TIFA?
All TIFA’s throughout the state operates under legislation established by the State of Michigan. Units of government, such as the City of Iron Mountain, are permitted to establish TIFA districts with precisely defined boundaries. They are almost entirely in commercial and industrially zoned areas. The Iron Mountain TIFA district runs from north to south city limits along the US -2 corridor, the industrial park, and those properties between Carpenter Avenue to Stephenson Avenue (US-2). An exact map of its boundaries is available at City Hall. Once established, what can TIFA do? Before it is operational, city officials approached other taxing units, the largest being the County Board and School Districts, requesting that they allow TIFA to “capture” their taxes on any new buildings within the TIFA boundaries. The original taxes remain intact. TIFA collects the incremental or new taxes, thus the word incremental in its name. In the case of the School District, they are reimbursed by the s
