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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionMahomet-Seymour Community Unit School District 3
Jurisdiction type: School District
Fiscal year ending In2019
Program nameTax Increment Financing (TIF)
Program purpose: General Economic Development
Statutory authority: 65 ILCS 5/11-74.4
Abating jurisdiction(s): Mahomet-Seymour Community Unit School District 3
Applicable taxesProperty Tax
Method of abatement: Payment In Lieu of Taxes (PILOT)
Provisions for recapture: (not specified)
Gross revenue loss: not reported
Reimbursement / offset: $675,921
Net revenue loss: not reported
Type of loss: Active
Additional notes on dislosureThe Village of Mahomet agreed to pass 100% of residential taxes and 50% of commercial taxes to the district. The PILOT listed in the CAFR is seemingly from residential taxes, as the report states that "The exact amount of the 50% of commercial Property Tax that the District has not received or has abated for fiscal year 2019 has not been calculated." In addition to the PILOT the district also received discounts on water/sewer billings. Abatement started in 2000.