THE FOLLOWING IS A NEWS-GAZETTE ARTICLE BY JENNIFER BAILEY
ABOVE: The Tilton Village Board met Thursday night.
TILTON — If Danville School District 118 wants Tax Increment Financing money returned from the village, Mayor Billy Wear said they want assurances it’s going to be used for educating students and bringing up test scores, not administration raises.
Discussions continued at a Thursday night Tilton Village Board meeting between village and Danville School District 118 officials regarding sharing Tax Increment Financing district funds. The school district’s Southwest Elementary School is located along Catlin-Tilton Road.
In a statement from Superintendent John Hart, the school district is not asking for new taxes but is requesting Tilton, in addition to Danville, share a portion of property tax revenue currently directed into municipal TIF funds.
School district officials say more than $12.8 million in property tax revenue has been lost to the school district with the TIF districts. A TIF district’s revenues come from increased property values and improvements.
Local property tax revenue supports services and resources available to students, Hart said.
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