Jasper TIF Review Highlights Strong Financial Outlook

Jasper's TIF districts remain on solid financial footing, according to an annual review presented Tuesday. 

Kyle Carlson from Baker Tilly presented the city’s TIF Report to the Jasper Redevelopment Commission and its overlapping tax units. The presentation, which is required annually, reviewed the financial status and outlook for the city's five TIF allocation areas. 

The Central TIF remains the city's strongest district. The district is expected to generate about $1.2 million in 2026, up from approximately $936,000 collected in 2025. The district continues to comfortably support debt payments on the city's new outdoor pool, with revenue projected to exceed annual bond obligations by roughly 147 percent. The bonds for the outdoor pool project, with $8.36 million outstanding, will reach final maturity in 2037. 

Carlson said the Riverfront TIF continues to outperform expectations. The purpose of the TIF was to finance part of the River Centre Project, including an extension of the Riverwalk, construction of parking lots, railroad improvements, and the silt removal in the adjacent Patoka River. Revenues have remained ahead of original projections, allowing the excess tax increment to be applied toward additional project debt, while the city retains its five-percent revenue share. 
 
The University Heights TIF may require boundary adjustments. Carlson said Baker Tilly plans to study whether a few residential parcels should be removed from the district. New state property tax deductions could cause those properties to generate "negative increment," reducing overall TIF revenue. Any changes would require approval from multiple municipal agencies and would be evaluated prior to implementing adjustments. The University Heights incentive payments may fall short of the maximum authorized amount. Current projections indicate the developer may receive about $588,000 of a possible $647,000 incentive by 2034 unless assessed values increase faster than expected. The RDC noted the developer bears that risk rather than the city. 

The Northridge housing development is running behind schedule. Newly released assessment data shows only land value increases as of January 1, 2026, indicating that residential units had not yet been completed. The project is estimated to be about a year behind, which means that TIF payments to the developer will likely continue longer than initially expected. Construction is underway, with several permits issued and additional phases moving through the approval process. 

The Horne Allocation Area remains in its early stages. This TIF district was created earlier this year to support future infrastructure improvements. City officials said interested developers have inquired about the property, but no formal development agreements are currently in place. 

For more information on these and other updates, visit jasperindiana.gov or JasperGov-Indiana on Facebook.


 - By Drew Hasselbring