City council members in Wooster have unanimously approved the creation of a tax increment finance incentive zone for the area around Wooster High School. The zone, which consists of five districts near Oldman, Oak Hill and Milltown Roads, will redirect the revenue from future property taxes to cover the cost of infrastructure improvements, including the construction of two new roundabouts. An estimated $7 million in new taxes, over thirty years, will be redirected to pay for the infrastructure projects. The city says the incentive zone will not result in a new tax or tax increase for current homeowners.
Wooster City Council approves TIF zone near Wooster High School
Oct 19, 2022