Tax Increment Districts
Tax Incremental District (TID) means a contiguous geographic area within a city defined and created by resolution of the local legislative body, consisting solely of whole units of property as are assessed for general property tax purposes, other than railroad rights-of-way, rivers or highways.
In the City of Beloit, TID 8, 9, 10, 11, 12, and 13 were closed in 2022. TID 14 is open and available for use. TID 14 doesn't close until 2034 with the expenditure period ending in 2029. Tax Incremental Financing (TIF) assistance to develop affordable housing may also be available, and interested parties should contact GBEDC staff for more information.