Share of Chicago Property Taxes Claimed by TIF Funds Set Another Record in 2023: Report – WTTW (Chicago)

In all, $1.36 billion poured into the city’s 124 TIF funds in 2023, according to the annual report from the clerk’s office posted online in July with no public notice. That accounts for approximately 42 percent of the nearly $3.24 billion in property tax revenue banked by Chicago officials. Despite the growth it is unlikely there will be enough unspent, unclaimed or left-over funds in the districts to balance the city’s cash-strapped budget or solve the financial crisis engulfing CPS.
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Riverbender
2 years ago

This is a statewide problem. When the TIFS are started the populace oooohhh and ahhhhh about the “wonderful benefits” that these TIFs provide including those awesome streetscapes guaranteed to reelect the standing politicians. Then, years later, as taxes that should have gone to the schools, police and infrastructure are sitting in the TIFS which are arguably slush funds for the status quo politicians. The Chicago schools are broke and begging for money yet plenty sits in the TIF account and in Johnsons so called “City Development Fund.” The money is there folks…make the politicians spend it appropriately for a change

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