Residential Incentive Districts (RID)

Residential Incentive Districts (RIDs) are established by counties, cities, or townships, typically for a 30-year period. Upon enactment, the value of a parcel within the RID is fixed, with any subsequent increase in value being placed on an exempt parcel. Owners then make " payments in lieu of taxes" based on this higher value. Residents within a RID see their tax dollars redirected from levy funds towards infrastructure projects like new roads and public buildings. 
Tax Increment Financing (TIF)

A TIF is set up in a similar fashion to RIDs. The most significant difference between a RID and a TIF is that a RID is residential and a TIF is typically commercial.

To learn more information about RIDs and TIFs, visit the Auditors site here.