Lynnwood council could vote May 27 on a new property-tax funding model for city projects
Lynnwood City Council plans to vote on a tax increment financing (TIF) ordinance on May 27 to fund major city projects, including infrastructure upgrades. TIF enables jurisdictions to finance public improvements through increased property tax revenue from new developments within designated areas. The city aims to create a 68-acre tax increment area to enhance local economic development.