Here are comments sent to Woodstock School Board members in which Susan Handelsman urges the District 200 School Board to oppose the twelve year extension of the Downtown Tax Increment Financing District:
Woodstock CUSD 200 Board of Education Members:
Woodstock is seeking a 12 year extension on a failed 20 year old TIF.
The majority of the $700,000 annual TIF revenue is from properties which existed prior to the TIF formation and have simply increased with inflation as most American real estate has increased over the past two decades.
Woodstock property tax rates are 4.6% of total home fair market value.
That means that the children you profess to protect are living in households in which median income earners living in median value homes must pay over 12% of their household income to property taxes.
This is in comparison to the national average 1.4% property tax rate which takes less than 4% of median household income.
This Board of Education’ two year silence in answer to the questions of
“What are you doing about this?”
has been deafening.
Here is your chance to prove that your motivations are to protect children rather than align with special interests:
Oppose this 12 year TIF extension for Woodstock TIF.
Letting the TIF expire will creat a $700,000 per year (and rising with 12 years of inflation) property tax break for the children for whom you assert concern.
Woodstock has zero need for a TIF district to raise money.
At 6-figure taxpayer expense, Woodstock government obtained a 3 year early Home Rule designation.
Woodstock Mayor and Council can borrow and spend unlimited millions at the stroke of Mayor Sager’s Bic.
The only difference between raising the same funds to give to cronies through a TIF is that TIF allows the public tax money diversion to occur in the dead of afternoon, without much public scrutiny or oversight.
Oppose the Woodstock TIF 12 year extension, or tell us what is the value you say it will provide to children.