Who receives TIF money?
Should TIF money be given to another taxing body? A good question and one being asked in Collinsville.
For a bit more of Collinsville tune into the Travel Channel tonight at 7:30 and 10:30 to see some of the Catsup Bottle Summerfest celebrating condiments.
2 comments:
I don't think TIF funds to a taxing entity meets the But for test by definition... since whatever another taxing body does is not private development by definition.
But I'm not a lawyer and any lawyer or guy with google can tell you a law... a good lawyer tells you all the exceptions to the law.
I don't know what the exceptions are on this one.
I don't favor TIFs. They are a way for a municipality to take tax dollars that would otherwise go to schools and other governments.
In a tax capped area, it forces taxpayers outside the TIF district to pay more taxes in order for the shorted districts to get the same amount of money.
Having said that, why should just private owners get a piece of the action?
Why not give some to one of the tax districts being short-changed by the local city or village?
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