Tax Increment Financing (TIF)
Elkins’ Tax Increment Financing (TIF) district was established under the West Virginia Tax Increment Financing Act (Chapter 7, Article 11B of the West Virginia Code). The City of Elkins formally created the district — designated as “The City of Elkins Redevelopment District No. 1” — in the spring of 2023.
About Elkins’ Tax Increment Financing (TIF) District
What is Tax Increment Financing (TIF)?
TIF is a tool that encourages private investment and development within a defined geographic area called a TIF district. The city captures future increases in property tax revenue (the “increment”) generated by rising property values within the district. Those funds are reinvested into public and private projects inside the same district — without raising current tax rates.
How does TIF benefit Elkins?
Elkins established its TIF district — officially named “The City of Elkins Redevelopment District No. 1” — in spring 2023 under the West Virginia Tax Increment Financing Act (WV Code §7‑11B). The district is authorized to capture tax increment from 2023 through 2053 (a 30‑year term). TIF revenues support critical community projects that improve public services, infrastructure, and quality of life. The program’s goals include stimulating economic growth, creating jobs, and attracting private investment, all without increasing the tax burden on residents.
TIF Projects
Several key projects have been identified for development through TIF funds. These projects aim to enhance public infrastructure, revitalize the community, and support long-term growth:
- Riverfront Development
A project to improve and beautify the Tygart Valley River area, restoring ecological function and creating recreational opportunities. Estimated costs range between $2.4 million and $3.3 million. - Recreational Trail System
The City is working with Elkins Area Shared Trails (EAST) to create high-quality trails within the city. This project is estimated to cost between $1.3 million and $3 million. - Downtown Streetscaping
Streetscape improvements, including sidewalks, lighting, and signage, are planned for downtown Elkins. Estimated costs range from $1.2 million to $1.8 million. - Elkins Railyard Development
Plans for the Elkins Railyard include the construction of a public events center, development of the Roundhouse Plaza, and infrastructure upgrades, with an estimated cost of $3.6 million. - Randolph County Industrial Park
Infrastructure improvements at the industrial park are estimated to cost between $2 million and $3 million, supporting local business growth and development.
Annual Reports
For more detailed information about the city’s TIF district and its financial performance, you can access our annual reports here:
Download the 2026 Annual TIF Report
For the fiscal year ended June 30, 2026, the TIF fund received $219,318.71 in revenue and spent $2,935 on administrative expenses. The district’s current assessed value was $94.2 million, compared with a base assessed value of $86.2 million. No TIF obligations had been issued. The City reported funding for riverfront and streetscape engineering and anticipated issuing approximately $2 million in TIF obligations in late 2027 to help fund construction.
Download the 2025 Annual TIF Report
For the fiscal year ended June 30, 2025, the TIF fund received $86,067.74 in revenue and spent $3,941.50 on administrative expenses. The district’s current assessed value was $94.3 million, compared with a base assessed value of $86.2 million. No TIF obligations had been issued. The City had applied for a grant to support riverfront and streetscape improvements and anticipated using TIF revenues for the required local match.
Download the 2024 Annual TIF Report
For the fiscal year ended June 30, 2024, no revenue had been transferred to the TIF fund, and the fund had no expenditures. The district’s corrected base assessed value was $86.2 million. No TIF obligations had been issued. The City established a TIF Advisory Committee and began depositing revenues into a dedicated account after the fiscal year ended.
TIF District Map
Explore the boundaries of the Elkins TIF district using our interactive GIS map.
Areas that comprise the TIF district include:
- Downtown Elkins
- The Industrial Park in South Elkins
- Sections of Randolph Ave., Harrison Ave., and 11th St.
This tool allows you to see where the TIF district is located and how the district is set up:
For More Information
City Clerk
Sutton Stokes
401 Davis Ave
Elkins, West Virginia 26241
304-636-1414, ext. 1211 (office)
suttonstokes@cityofelkinswv.gov
