WR Council approves Tax Allocation District

jclark@sunmulti.com

The Warner Robins Council took measures Monday for the redevelopment

of the Commercial Circle Corridor.

 

The corridor is defined as the area of

Watson Boulevard from Hwy. 247 to Commercial Circle.

Councilman Mike Daley said, “This is a long time coming,”

after the resolution for the Tax Allocation District (TAD) was unanimously

approved.

 

A TAD is where property tax from a certain area, which in

the case of Warner Robins is the Commercial Circle Corridor, will be collected

and then used for the improvements of that area.

According to the Georgia Municipal Association, local

governments can sell bonds that will finance the redevelopment of an area.

“As public improvements and private development take place

in the area, the taxable value of property in the TAD increases. The city

collects the total revenues, putting the increase in revenues as a result of

new development into a special fund to pay off the bonds that financed the

public improvements, while the remainder goes back into the city’s general

fund. The TAD is dissolved when the bonds have been retired and any other public

financing has been repaid,” explains the Georgia Municipal Association.

According to officials, the County Commissioners and the Board

of Education will have to approve the TAD in order for it to go into effect.

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