Top Murphy, MO Tax Increment Financing Lawyers Near You
8001 Forsyth Blvd, Suite 1500, Clayton, MO 63105
120 S Central Ave, Suite 1600, Clayton, MO 63105
190 Carondelet Plaza, Suite 1400, Clayton, MO 63105
7777 Bonhomme Ave, #1900, St. Louis, MO 63105
7700 Forsyth Boulevard, Suite 1800, St. Louis, MO 63105
211 North Broadway, Suite 2000, St. Louis, MO 63102
100 South Fourth Street, Suite 600, St. Louis, MO 63102
701 Market Street, Suite 260, St. Louis, MO 63101
101 S Hanley Rd, Ste. 600, St. Louis, MO 63105
One Metropolitan Square, 211 North Broadway, Suite 3600, St. Louis, MO 63102-2750
7700 Forsyth Blvd., Suite 1100, St. Louis, MO 63105
7676 Forsyth Blvd, Suite 2230, St. Louis, MO 63105
12935 North Outer Forty, Suite 210, St. Louis, MO 63141-8653
One U.S. Bank Plaza, 505 North 7th Street, St. Louis, MO 63101
7733 Forsyth Blvd, Suite 750, St. Louis, MO 63105
1 North Brentwood Blvd, Suite 1200, St. Louis, MO 63105
500 N. Broadway, Suite 1300, St. Louis, MO 63102-2125
Murphy Tax Increment Financing Information
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What Is Tax Increment Financing?
Tax increment financing (TIF) is a special tax treatment cities and states give certain areas of land to incentivize redevelopment. Examples of projects that tax advantage of tax increment financing include:
- Redeveloping vacant buildings and unused structures
- Developing a sports complex
- Cleaning up polluted land and properties
- Improving downtown business districts
- Financing infrastructure improvements
What Are Some Examples of Situations Where I Might Need a Tax Increment Financing Lawyer?
If you are trying to develop unused or blighted areas of Murphy, tax increment financing can generate investment in the development projects. This is a way to motivate investors to help fund a project that will pay for itself with increased tax revenue from a growth in property value. You should consider hiring a lawyer who specializes in TIF compliance at the beginning of your project.
How Can a Tax Increment Financing Lawyer Help Me?
Tax increment financing is a way for cities to develop projects that will cover the initial investments from their own increased property value. Taxpayers may not want to support outright spending projects. Taxpayers may be more willing to support TIF projects because they pay for themselves over time. A tax increment financing lawyer can help with:
- Legal counsel and guidance
- Identifying the right financing projects
- Drafting the tax increment financing agreements
- Tax structuring to recuperate project investments
What Could Happen if I Don’t Hire a Tax Increment Financing Lawyer?
Tax increment financing projects are complex. These projects require extensive investigations into the property, zoning, stakeholders, property owners, land use restrictions, and environmental issues. Without hiring a TIF lawyer, your project could face many complications, including:
- Toxic tort litigation
- Community opposition
- Zoning restrictions
- Lack of financing
What Are the Top Questions When Choosing a Tax Increment Financing Lawyer in Murphy?
When you look for a TIF lawyer, ask questions to make sure they are the right person for the job. Many lawyers offer consultations so you can understand your options and get specific legal advice. The top questions to ask include:
- What experience do you have in handling tax increment financing projects in Missouri??
- What is your approach to starting a TIF project?
- What potential legal strategies may be applicable to my case?
- What are the potential consequences and penalties if there are problems with the project?
- How will you communicate with me through this legal process?
Tips for Hiring a Tax Increment Financing Lawyer
When you are looking for the right lawyer, find someone who will protect your interests, represent your needs, understand your case, know your goals, and have the necessary experience. Some tips for finding the right lawyer include:
- Ask for recommendations
- Research lawyers online
- Schedule consultations
- Review experience and expertise
- Talk about fees and billing
- Trust your instincts