Let’s examine the current Old Schaumburg Center. Who makes the funding decisions? The Village Board. Does the money show up in the Village’s financial statements? Yes. Who is in charge of implementing the policies of the Village Board in regards to TIF expenditures? The Village Manager.

Joe, your comments are factually incorrect and deliberately misleading.

There is one thing you are correct on… the Village doesn’t levy the property tax. Instead they take the money from District 211, District 54, Schaumburg Park District, Schaumburg Township Library, Schaumburg Township, and Cook County’s levy.

This hidden diversion of property tax revenues is even worse levying a property tax. TIF districts are set up with no tax bill transparency and thus no accountability to the taxpayers. This is why we need transparency proposals such as the one in the article above.

If the Village does not collect a property tax then where does the $120 Million in TIF district funds come from?

The Village board is in full control of how those TIF property tax dollars are spent. The execution of those expenditures are fulfilled by the Village staff. Just look at the Olde Schaumburg Center TIF. Your argument that Village does not control the TIF process or collect the TIF property taxes is wrong.

You also argue that every time the government taxes the people and spends the money magically everything gets better. Command-and-control economics fails to produce economic wealth for the people. When people are taxed they get poorer. Any wealth creation in the TIF district is offset by the losses to the surrounding areas.

The Village of Schaumburg should stick to providing the basic essentials of emergency services (police, fire, ambulance) and maintaining the roads.

The Village should have no role as a real estate developer nor giving $94 Million in corporate welfare to private entities. This creates the opportunity for pay-to-play corruption that is at epidemic levels throughout the state.

Have you noticed that all of the major companies that do business with the Village give donations to the Mayor? If the mayor was a principled person he wouldn’t accept donations from those that receive the government contracts.

The Convention Center & Hotel has not brought in substantial business to the Village to justify the $7 million in sales tax expenditure and the $6 million in property tax exemption per year. The Village said that this would cause more business at local restaurants and retail businesses, but look at the facts. Sales tax revenue from these sources were flat and now decreasing. The sales tax revenues were flat even before the recession. Hardly enough to justify the $13 million in costs to the taxpayer per year.

You fail to understand the workings of a properly run government. Not all projects will be profitable as some generate business to the village & other surrounding communities. The convention center & the other two you mentioned do exactly that. They bring consumers into the village. You do not understand what a TIF district is so I suggest you look that up. Bottom line residents in Schaumburg do not pay a property tax.

Schaumburg residents don’t pay property taxes? Hmm…I think you meant to say the residents of Schaumburg do not pay a property tax to the Village. Even then you are still wrong.

You may want to check out this document, the 2008 Treasurers Report.
http://www.schaumburgfreedom.com/wp-content/uploads/2009/01/treasurers-report-2008.pdf

If you look at the Capital Project Funds section you will see TIF Property Tax Increment $2,172,926. Is that not a property tax? It says it’s a property tax in its name. Also, check out the underneath the General Fund section for Real Estate Transfer Tax $741,542. That is a tax on the sale of property.

But those aren’t even the most costly property tax policies of the Village. The property tax exemptions for the Schaumburg Renaissance Convention Center, Schaumburg Airport, and Schaumburg Flyers Baseball Stadium are much more costly. All 3 are run or managed by private for-profit corporations. Not only are millions of General Fund tax dollars going to these entities they cumulatively receive approximately $10-$15 million in property tax exemptions. The other property taxpayers in Schaumburg must make up the difference.

Why is it that one of the largest, most luxurious, building in Schaumburg (the Schaumburg Renaissance Hotel and Convention Center) pays no property tax but other Schaumburg property taxpayers, including those who are below the poverty line, are forced to make up the difference?

It’s just plain wrong to do that.

You’re again so far off base & incorrect it’s actual funny! The residents of Schaumburg do NOT pay a property tax so your statements are incorrect.

Have a nice day.