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Resident tells Warrenville council TIF 3’s “frozen” EAV raises tax rates; offers county clerk analysis
Summary
Resident Bob Siebert told the council July 7 that the TIF 3 "frozen level" equalized assessed valuation creates a higher tax rate for properties outside the TIF, citing a specific parcel comparison and saying a county clerk’s re-run of bills showed tax rates would drop without the TIF.
Bob Siebert, a Warrenville resident, told the city council on July 7 that the method used to calculate taxes for properties related to TIF 3 uses a "frozen level" equalized assessed valuation (EAV) that is lower than the current assessed valuation and that practice effectively raises the municipal tax rate for properties outside the TIF.
Siebert said one…
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