It doesn’t take much research to find out that I oppose Tax Increment Financing Districts.
However, at the last Lakewood Village Board meeting President Paul Serwatka mentioned the possibility of a Special Service Area (SSA) as a means of financing the alleviation of flooding problems on the East Side of town.
2013 flooding at Gate 21.
The problem is localized in the Country Club Additions Subdivision, the Gates, as people have begun to call the area.
An SSA would mean my and my neighbors taxes would go up, so you can imagine how my mind jumped when I heard Serwatka use say, “SSA.”
Then, an idea flowing from the brain of Susan Handelsman hit me.
Why not a residential Tax Increment Financing District, such as she has advocated?
Why should business get all the benefits from a TIF District?
If the Village Board were to create a TIF District for the East Side of town, now commonly know as”The Gates,” real estate taxes coming in as a result of increased assessed valuation could be designated by the Board for various flood remediation projects.
At its mid-November meeting the Board authorized Midwest Water Group to “smoke” test ninety-five sewer manholes. (It’s not actually smoke. It’s some harmless vapor.”
The goal is to identify
- drains in driveways
- gutters connected to the sanitary sewers
- “any exterior source going into the sewer system”
A likely source of infiltration are the pipes running from homes to the sewers under the streets.
If these are tile, roots may have provided openings for rain water to end up in the sewers.
If the TIF were successful, subsidizing the removal of roots inside the pipes and/or lining such laterals with PVC pipe would be possible, if approved by the Village Board.
Excuse me, my brain said a residential TIF for ALL residents,in order to:
1. nullify the advantage Chicago School State funding has due to its artificially (arTIFicially)low EAV,
2. starve the beast–require taxing bodies to live within the means of 2017 funding for the next 23-35 years, or obtain taxpayer permission to get more $$,
3. Kill TIF as a funding mechanism in Illinois, because it is unfair to divert tax money from one group of taxpayers for a totally different group of taxpayers’ benefits’, it drives up tax rates for all, which only works if the community is ‘WNL” within normal limits, and there is nowhere in McHenry County within normal limits of property tax rate.
4. My idea only works if EVERYONE gets a TIF rebate. If Lakewood did this to fund their own infrastructure improvements, they would divert 23-35 years of inflationary taxable EAV proceeds from the affected school districts, as well aas COunty, MCC, MCCD, etc. Why should all those taxpayers subsidize Lakewood’s (or any other muniicipalities’) tax windfall?
if a majority of the flooding was caused by the residents aged infrastructure and/or illegal draining then why should we all bail them out?
Hey my bath drain filled up because the previous owner cut corners, can the whole Village please bail me out?
Now, if this was caused because of the village owned and operated infrastructure then we would beed to discuss.
Per Paul’s release is appears a majority is on the residents, which really sucks, but it’s part of the joy owning a home.
I don’t think Serwatka had anything to do with this idea…remember he spearheaded dismantling TIF recently.
Cal may from time to time post to keep TIF as a timely topic.
With our property tax rates 3-4% of total home fair market values, our County cannot afford another TIF District–that is, unless EVERYONE gets to be in a TIF District and receive rebates of incrementally higher taxes paid for the next 23-35 years.
The blight which has arisen as a factor of our astronomical property tax rates is not allowed consideration under TIF law.
Woodstock TIF is trying to sneak through a 12 year extension of their TIF.
Citizens should learn about TIF and oppose it with Springfield politicians empowered to grant this extension.