TAX ALLOCATION DISTRICTS
The City of Marietta has established three Tax Allocation Districts (TAD) in an effort to revitalize declining neighborhoods and stimulate reinvestment in underutilized property. Authorized under Georgia’s Redevelopment Powers Law, TADs offer opportunities for communities to support desired private development by reinvesting the resulting incremental property tax revenues into the projects themselves. The City Council has delegated to the Marietta Redevelopment Corporation (MRC) responsibility for evaluating request from private developers to receive TAD funding support. In June 2005 the MRC Board of Directors established policies and procedures to consider request for tax increment financing to support redevelopment projects within established and future TADs.
» What is a TAD of TIF?
» TAD Application, Policy and Procedures (PDF)
Tax Allocation Districts represent 5.23 percent of the city’s 2007 total tax digest. The figure below illustrates the growth in each TAD since certification using appraisal values from the Cobb County Tax Assessor’s Office. Redevelopment projects have yet to be implemented in the Franklin/Gateway and Center City Perimeter TADs, therefore little growth has occurred over and above the certified base. The CCSR TAD’s assessed value increased by 23 percent from 2006 to 2007 and has grown by more than 48 percent since 2004 certification. This growth is contributable to implementation of redevelopment projects totaling more than 600 housing units and 100,000 square feet of commercial office and retail space.
Select a district below to read detailed descriptions as well as view boundary maps, approved redevelopment plans and parcel identification information.
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