Ashland holds informational TIF meeting, answers questions
An informational meeting was held at the Ashland village hall last Thursday to discuss and allow citizens to ask questions concerning Tax Increment Financing districts. About 15 village residents attended the meeting. Daniel Schuering, an attorney at Schuering Law, Ltd., presented information and answered questions on TIF districts.
Schuering described what a TIF district is and what it is not. He said it is not a new tax or new government unit. If the village were to form one, it would be done by the village, who would also administer it. Funds for a TIF district come from property taxes. Using the current property tax value as a baseline, any revenue generated above the baseline by increased property values goes into a fund for improvements within the district boundaries.