DowntownThursday, October 8
Downtown's TIF district lost 61% of its taxable value in a year
The Good Day Great Falls team
The downtown district's incremental taxable value fell from about $2.14 million in tax year 2025 to about $832,000 in 2026, strategic development officer Brock Cherry told the Super TIF Advisory Committee on Tuesday.
That is taxable value, not cash, so the money the district takes in will not necessarily fall 61%. But downtown is used to about $2 million a year.
“We're probably entering a new era of the downtown TIF where that isn't the case.”
Why it fell
- The sale of Energy West to NorthWestern Energy changed how the state counts its utility property, so less of that value reaches the downtown district.
- New state rules on commercial property values hit a district that is mostly commercial property.
The city manager has paused staff approval of new applications to the Downtown TIF Building Program, which spends up to $500,000 a year on facades, accessibility and safety. Approved awards, debt payments and reimbursements go on, and the city expects a clearer picture by late October or early November. "The downtown TIF is not insolvent," Cherry said.
Source: KRTV