Turning Tax Value into Redevelopment Revenue

Community Redevelopment Agencies are funded through tax increment revenues. Properties located within the BBCRA boundaries do NOT pay any additional property taxes; rather, a portion of the annual City and County taxes collected in the redevelopment area is transferred to the CRA for redevelopment activities. The greater the increase in taxable property values over the BBCRA's base year (1982), the large the incremental increase in revenue transferred to the BBCRA. Other sources of funding for redevelopment activities include the issuance of taxable and nontaxable bonds. 

As the Boynton Beach Community Redevelopment Plan is implemented, the tax base for local government increases significantly. Boynton Beach, by applying BBCRA skills, expertise and funding the CRA area, continues to create revitalization with businesses, affordable housing, culture and entertainments and community quality of life creating exciting new benchmarks. 

For more information on the BBCRA Budget and Finances, please contact Vicki Hill, Finance Director, at HillV@bbfl.us or (561) 600-9092 or Jobara Jenkins, Accounting & Finance Manager, at JenkinsJ@bbfl.us or (561) 600-9095.