"Property taxes are critical sources of funding for essential local services. The property tax system is complex, but homeowners who invest the time to better understand their tax bills are more likely to save themselves money by capturing tax breaks for which they are eligible."
Correction-If you are in a TIF zone which there are many the only part of your taxes that pay for services come from the base value set at the beginning of the TIF. Any value above that goes to the TIF to do with whatever they want but not to fund the local taxing bodies. So if your home was $250K when the TIF started and now it’s $500K only half goes to so called essential services the other half into some politically connected entity. If I’m not mistaken the Willis Tower is valued at $450M or so but is… Read more »
I live in the southwest suburbs small village covers about 24miles in circumference, roughly around 40,000 people. 9 yes 9 tif’s with a 10th on its way wanna talk about thievery,the school district sued the village several years back to get a portion of that tif money. Why do we need so tif districts is beyond my thinking.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Correction-If you are in a TIF zone which there are many the only part of your taxes that pay for services come from the base value set at the beginning of the TIF. Any value above that goes to the TIF to do with whatever they want but not to fund the local taxing bodies. So if your home was $250K when the TIF started and now it’s $500K only half goes to so called essential services the other half into some politically connected entity. If I’m not mistaken the Willis Tower is valued at $450M or so but is… Read more »
I live in the southwest suburbs small village covers about 24miles in circumference, roughly around 40,000 people. 9 yes 9 tif’s with a 10th on its way wanna talk about thievery,the school district sued the village several years back to get a portion of that tif money. Why do we need so tif districts is beyond my thinking.