The group of property owners want to establish an economic improvement district—an organization to revitalize and promote the downtown area.
If the system is approved, property owners on Main Street would be taxed by the Hillsboro Finance Department at 0.6 percent of their assessed value, capped at $1,700, said Karla Antonini, of the city's economic development department. Property owners on the side streets would be taxed at 0.4 percent of assessed value.
That money – about $130,000, based on 2013 assessed value – would be used to create a downtown-centric organization whose manager would promote the businesses, fund storefront improvements, hold events, fill vacancies and come up with other ways to revitalize the area.
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