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September 21, 2014, 7:11 pm
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Dist. 186 Could Ask for Percentage of TIF Increase


District 186 will ask the City of Springfield for a share of the money generated by a planned Tax Increment Financing district along Dirksen Parkway, near the JC Penney store.

 

Ordinarily, increases in property tax values in a TIF district are rolled back in to improvements within that district, which means taxing bodies like the school district don’t get their usual share of the increased revenue.

 

But school board member Scott McFarland says District 186 should ask for as much as ten-percent of the increase, in order to help schools keep pace with expected growth related to the TIF district.

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