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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.

StateMinnesota
Effected JurisdictionHennepin County
Jurisdiction type: County
Fiscal year ending In2020
Program nameTax Increment Financing
Program purpose: General Economic Development (TIF)
Statutory authority: Minnesota Statutes 469.174
Abating jurisdiction(s): Various Cities and Authorities
Applicable taxesProperty Tax
Method of abatement: Tax abatement (TIF)
Provisions for recapture: (not specified)
Gross revenue loss: $10,999,496
Reimbursement / offset: $0
Net revenue loss: $10,999,496
Type of loss: Passive
Additional notes on dislosureAbatements are passive, by agreements made by the following jurisidictions: Eden Prairie City, Hopkins City, Minneapolis City, Minnetonka City, Richfield City, St Louis Park City, Wayzata Housing & Redevelopment Authority, and "twenty other cities and authorities"
Document sourcehttps://www.hennepin.us/your-government/budget-finance/financial-reports