Per an intergovernmental agreement, the City of DeKalb promised to declare a 50% surplus of the Central Area TIF (aka TIF 1) increment for each of the 12 years of the extended and amended TIF district. The surplus will be paid to all taxing bodies in the same proportions as the regular property taxes are, and includes a distribution of city sales taxes as well. The following documents are October 2010 estimates of the FY2011 end-of-year surplus and distribution totals. They were obtained from the school district along with a letter from the city explaining adjustments and procedures.
Click on the documents to access larger images and the album.
Calculations by precinct are also available. If you’d like to look at the whole shebang, e-mail me and I’ll forward all eight pages received from the school district.
Next post: how the school district and the city have budgeted TIF surpluses.