The Tax Increment Reinvestment Zone (TIRZ) Number Two is a designated area in the City that implements tax increment financing (TIRZ Number Two Map). This enables local economic development officials to collect the property tax revenue attributable to the increased assessed value resulting from new investments within the zone to be used for community improvement projects. The City of Killeen, Bell County and Central Texas College all contribute to the TIRZ #2 funds, with 100% of real property values within the boundary.
The TIRZ #2 Board is made up of seven (7) members representing the City of Killeen, Bell County, and Central Texas College. Councilman Ramon Alvarez Councilwoman Jessica Gonzalez Tad Dorroh- Killeen City Representative Commissioner Louie Minor-Bell County Representative Commissioner Bobby Whitson- Bell County Representative Rex Weaver- Central Texas College Representative Vacant- City of Killeen Representative
TIRZ #2 Project and Financing Plan
The TIRZ board sets the project plan and financing plan for the life of the TIRZ. The current TIRZ expires in 2048. The estimated value of the TIRZ #2 for the lifetime is $160 million.