Parrish Area Improvement District

The Manatee County Board of County Commissioners established the Parrish Area Improvement District under Ordinance No. 22-31 on September 1, 2022 and became effective October 1, 2022.

Manatee County will administer the Parrish TIF and engage with business stakeholders to develop revitalization strategies to be carried out throughout the Parrish Area Improvement District.

What is tax increment financing (TIF)?

Tax increment financing (TIF) is a funding mechanism that dedicates ad valorem tax revenues that result from improved property values within a designated area over a prescribed period of time.  This creates an incentive to work toward area improvements and allows a portion of tax revenues to be maintained for use within the area where the tax was paid.

Any increase in total taxable property taxes collected between the base year (which is 2022 for the Parrish Area Improvement District) and each following year is called “the increment.”  Up to 95% of an increment may be deposited in a special trust fund for use solely within that designated area.  At present the Board of County Commissioners dedicates 50% of the increment.

The key to continued growth of the trust fund is attracting private market investment for new and improved housing and commercial buildings, which tends to increase surrounding property values, and the additional ad valorem tax revenue produced by new investment and increased value.  It is important to note that TIF is not a tax, but a way to use a portion of the property tax already being generated within the district for district improvements that would otherwise be payable and used throughout the county.

What is a TIF District?

A TIF District is the designated area where the use of tax increment financing has been authorized by local ordinance Chapter 2-29 Taxation and Fiscal Procedures Manatee County Code of Laws as allowed by Article VIII of the Florida Constitution and Chapter 125 of Florida Statutes.  The Parrish Area Improvement District was established by ORD 22-31 by the Manatee County Board of County Commissioners September 1, 2022.  The District became effective October 1, 2022.

How are TIF District funding decisions made?

TIF revenue is maintained within the Parrish Area Improvement Trust Fund.  The annual funding of the Parrish Area Improvement Trust Fund shall be in an amount not less than an amount equal to fifty percent (50%) of the Tax Increment.  The Board of County Commissioners allocates TIF revenue from the trust fund as part of Manatee County’s annual budget process.

• Parrish TIF District Map
• Land Development Code
• Interactive Maps
• Parrish Area Business Alliance
• Parrish, FL
• Parrish Civic Association
• Florida Redevelopment Association