Sheffield president urges clarity on TIF, saying 'TIF does not increase property taxes'

President Sheila Yepsen told residents at the April 14 Village Board meeting that recent social-media claims about the Village's TIF use were inaccurate and provided detailed clarifications about how the district operates.

Yepsen read a prepared statement saying projects are reimbursed only through real-estate tax reimbursement and that the Village follows a "pay-as-you-go" model for developer agreements, allowing reimbursement of up to 50% of property taxes paid in a year up to an agreed maximum. She also addressed a common misconception: "TIF does not increase property taxes. TIF represents a reallocation of existing tax revenue." Yepsen said the Village's TIF boundaries encompass nearly the entire Village and noted only the Wilson property on Reed Street has received a residential reimbursement under a Village Lot Marketing Program.

Why it matters: TIF and developer reimbursements affect how local projects are funded and which properties receive public incentives. Yepsen said the TIF Annual Joint Review Board Meeting for fiscal year 2025 will be open to the public on May 12, 2026, at 5:00 p.m. at the Community Center, providing an opportunity for residents to review records and ask questions.

The president also reviewed employee benefit adjustments, saying the Board moved from monthly HSA contributions to an equivalent increase in wages to preserve plan flexibility for employees. She urged residents to consult public TIF records for details and emphasized transparency as the Board continues to oversee development incentives.