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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateIowa
Effected JurisdictionCity of Cedar Rapids
Jurisdiction type: Municipality
Fiscal year ending In2021
Program nameUrban Renewal and Economic Development Projects - Tax Increment Financing (TIF)
Program purpose: General Economic Development
Statutory authority: Chapters 15A and 403 of the Code of Iowa
Abating jurisdiction(s): Cedar Rapids, Iowa
Applicable taxesProperty Tax
Method of abatement: Tax Rebate
Provisions for recapture: (not specified)
Gross revenue loss: $4,627,091
Reimbursement / offset: $0
Net revenue loss: $4,627,091
Type of loss: Active
Additional notes on dislosure City provides rebate after developers meet the terms of the agreements
Document sourcehttps://cedar-rapids.org/local_government/departments_a_-_f/finance/cafr...