State Auditor Blaha Releases 2024 Tax Increment Financing Legislative Report - January 29, 2026

Contact: Nadine Kottom-Dale | 612-391-7000

State Auditor Blaha Releases 2024 Tax Increment Financing Legislative Report

“The numbers point to steady use of TIF across the state, with higher revenues than previous years but fewer new districts and continued early closures,” Auditor Blaha said.

SAINT PAUL, Minn. – State Auditor Julie Blaha released the 2024 Tax Increment Financing Legislative Report today. 

Tax increment financing (TIF) is a financing tool established by the Legislature to support local economic development, redevelopment, and housing projects. TIF allows development authorities to fund these activities by using the additional property taxes, referred to as "tax increments", that are generated from the increased value of the new development. The Office of the State Auditor (OSA) provides education and conducts oversight activities that help ensure good stewardship of tax increment financing. The 2024 Tax Increment Financing (TIF) Legislative Report covers 2024 activities reported in 2025.

Highlights and Trends from 2024:

• Revenue Increase: $261 million in tax increment revenue was generated statewide, an almost 10% increase from 2023 and the highest total of the past decade. However, in inflation-adjusted dollars, revenues remain below levels seen in the prior two decades and are comparable to mid-1980s totals. (Pages 20-24)
• TIF Districts: 373 development authorities submitted reports to the OSA for 1,657 TIF districts. The slight decline in reporting districts marked the first decrease since 2018. (Pages 10-13)
• Early Decertification: From 2020-2024, 73% of redevelopment, 72% of housing, and 36% of economic development districts decertified early, reinforcing the continued shift away from maximum-term decertification. (Pages 18-20)
• New Districts: 70 new TIF districts were certified, a 4% decrease from 2023 and the lowest number of new certifications in the past five years. A total of 94 districts were decertified in 2024, ten fewer than in 2023. (Pages 14-16)
• Revenue Redistribution: Development authorities returned $16.84 million of tax increment revenue to county auditors for redistribution as property taxes to cities, counties, and school districts. (Page 24)
• Outstanding Debt: TIF districts reported over $1.9 billion in outstanding debt, a 3% increase from 2023. Nearly 73% of this debt was Pay-As-You-Go (PAYG) obligations, continuing the long-term shift away from general obligation bonds. (Pages 25-27)

You can view the complete report on the OSA website.