Hartford City TIF Districts Forecast $640,000 in Revenue for 2026

From the Hartford City Redevelopment Commission meeting on May 14, 2026

Hartford City's five tax increment financing (TIF) allocation areas are expected to generate approximately $640,000 in combined revenue for 2026, according to a mandatory annual presentation by Greg Balsano of Baker Tilly Municipal Advisors.

TIF districts capture the growth in property tax revenue above a frozen base value and redirect it to economic development projects instead of flowing to other taxing units like the county, schools, and library. Hartford City's five allocation areas contain $21.3 million in assessed value above the base, taxed at $3.4275 per $100.

A critical deadline looms: roughly $358,000 of the total — about 56% of all TIF revenue — comes from the original 1999 Hartford City allocation area, which expires after 2029. Without action, the city will lose more than half its TIF collections starting around 2030. Economic development advisor Warren Brown said he has drafted a plan involving an expanded footprint for the Industrial Park TIF, with action needed by 2028.

The commission also learned that a recent state legislative change now requires it to notify overlapping taxing units and the county auditor of its annual pass-through decision by June 15. Failure to act triggers an automatic 5% pass-through — meaning the commission would lose 5% of its TIF revenue by default.

Brown noted that all three economic development areas have been consolidated into one revitalization area, allowing TIF funds from any allocation area to be spent anywhere within the unified zone.

Source: Meeting transcript — Hartford City - Redevelopment Commission - May 13, 2026

Some information may be inaccurate due to video audio quality.