Arlington Heights to pay treasurer's office $300,000
Arlington Heights is reimbursing the Cook County treasurer's office nearly $300,000 for refunds the office made to taxpayers who filed successful property tax appeals, officials said.
A Cook County circuit court decision, recently upheld by the Illinois Appellate Court, said the treasurer could recover refund amounts of incremental tax payments received by the village during the lifetime of two downtown tax increment financing districts.
The village established the downtown TIF districts in the 1980s to help pay for redevelopment projects, including three public garages, Harmony Park, the train station and the Metropolis Performing Arts Centre. Property taxes paid to local governments within the area were frozen, and money collected above those levels was diverted to a special village fund for 23 years to fund the projects.