Real Estate Tax bills for tax year 2018 payable 2019 have been sent out by the Bureau County Collector. Please note that although the Sheffield TIF District is listed under the “Taxing District” column, the TIF District is not a taxing district. There is no additional tax rate applied to your bill as a result of the TIF District.
The dollar amount shown for the TIF District represents a re-allocation of the real estate tax resulting from an increase in Equalized Assessed Valuation (EAV) on each individual parcel since tax year 2016 payable 2017 for properties within the TIF District. The amount of TIF District funds shown on your tax bill have simply been re-allocated by the Country Treasurer to the Village of Sheffield for purposes relating to economic development within the Re-development Project Area.
Please remember – tax bills fluctuate from year to year due to assessed value AND Tax Rate.
