This year McHenry County Clerk Mary McClellan has made it easy to find what Tax Increment Financing Districts are extracting from our pocketbooks.
Since my tax bill is composed of most of the tax districts into which Crystal Lakers pay, I took a look at the city’s TIFs.
The Virginia Street TIF, which can be identified by the pillars near the Crystal Lake Motel and Pizza Hut on Route 14, brought in $14,900.74.
I wonder if that will be enough to pay off even the interest on money to pay for the ornamental street lights, flower boxes, bike racks and cement cross walks.
The Main Street TIF brought in $519.95.
The Vulcan TIF, which was passed to pay for Three Oaks Recreation Area brought in zero.
Next year, when the new VW car dealership gets on the tax rolls, there will be a positive number.
And to think that the City Council thought the Vulcan Lakes TIF District would pay for turning Vulcan Lakes into a recreation area.
Instead the City Council raised the city portion of the sales tax by 75%.