The Dripping Springs Tax Increment Reinvestment Zones (TIRZs) is one of the City’s most important economic development tools. TIRZs are used prudently by rapidly-growing cities to provide needed public improvements, civic infrastructure, and redevelopment incentives which improve its economic base and quality of life without increasing taxes.
The TIRZs main focus is maintaining the vitality, community character and viability of the heart of Downtown Dripping Springs.
A TIRZ works by capturing a portion of the new, rising tax base occurring within rapidly-developing target areas (zones) and then making this “Tax Increment Fund” available to help fund identified projects.
WHEN & WHY:
The City of Dripping Springs formed two TIRZ zones in 2016. TIRZ #1 encompasses the heart of downtown Dripping Springs. These TIRZ zones create the opportunity to plan redevelopment and prepare for the provision of public infrastructure to these areas within the City limits, and offer a response to the challenges and issues created by patterns of rapid growth.
The Dripping Springs TIRZ is governed by a Board of Directors. You can find information on this board by looking at our Boards and Commissions section of this site. Board members are appointed and include City and County representatives and key stakeholders, including the DS Community Library and the DSISD. Advisor Board members and key City Staff serve and support the Board, a Project Manager looks after the progress of the TIRZ Priority Projects, and a TIRZ Administrator is responsible for the financial record-keeping of the Tax Increment Fund.
These projects are focused to provide infrastructure improvements that will allow for responsible growth while preserving a sense of community.
The City encourages citizen input. To share your thoughts or for questions, please contact City Secretary, Andrea Cunningham or call city hall at 512-858-4725.