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Mike

There’s no comprehensive study on how often the endless tax incentives serve their intended purpose as opposed to resulting in higher taxes for those that don’t receive an incentive. Locally, property incentives are often not just limited to TIFs. For example, The Chicago Department of Planning and Development (DPD) lists the following 21 economic development incentives: – Class 6(b) Property Tax Incentive. – Class 7(a) and 7(b) Tax Incentive. – Class 7(c) Tax Incentive. – Class 8 Property Tax Incentive. – Class C Property Tax Incentive. – Class L Property Tax Incentive. – Enterprise Zone Program. – Industrial Development Revenue… Read more »