Share of Chicago Property Tax Revenues Claimed by TIF Funds Grew 15.5% in 2021: Report – WTTW (Chicago)

Demolishing the record set in each of the past two years, $1.22 billion poured into the city’s 129 TIF funds in 2021, according to the clerk’s report. That accounts for approximately 40% of the nearly $3.02 billion in property tax revenue banked by city officials, an increase of 9% since 2017, according to data compiled by the clerk’s office.
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Goodgulf Greyteeth
3 years ago

So, if I read this all correctly, the Cook County Assessor, Kaegi, says that it’s not his fault that the Cook County Board of Review didn’t over-rule enough of his unpopular property tax assessments. OK….. 40% of which go to some alderman’s and/or mayor’s progressive special-project-of-the-moment TIF fund, that should have already solved/fixed one of the woke/equity/diversity/underinvested/broke problems with which Chicago remains hopelessly plagued. And that of this $3 billion dollars in annual property taxes, homeowner’s property taxes increased at a far higher rate than commercial property’s taxes because the County Board of Review over-ruled Kaegi’s assessments, and reduced the… Read more »

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