January 15, 2015Tom Tresser

312-804-3230 – tom@civiclab.us

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What are TIFs?

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What are TIFs?

• Created by municipality (state

statute)

• Boundaries cross political and

community boundaries

• Designed to subsidize some

business project in “blighted” or

under-served area

• Captures “incremental” property

taxes ABOVE base when district

was created

• Lasts 23 years

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How Do TIFs Work?When the TIF is created,

the city tallies up all the

property taxes

generated by district in

that year (called the

"base" amount). After

that, all property tax

increases above the

base (the "increment")

are channeled to the TIF

district.

The property taxes

collected from

properties inside the

district BEFORE the

district was created

that go to units of

government stays

FLAT for the life of the

TIF (23 years).

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Money From TIFs Taken From?

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What are TIFs?

Under state law, areas proposed for TIF designation

must possess numerous blighting factors to be

eligible:

• Age

• Obsolescence

• Code violations

• Excessive vacancies

• Overcrowding of facilities

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TIFs Used to support commercial projects in these “Blighted” Areas

40 S. Halsted

Apple Store

TIF $

9Better Government Association

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Mr. TIF

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What are TIFs doing to us?

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If you would like the full presentation with the

particulars of the 33rd Ward TIFs, please visit our TIF

Data Store @ http://www.tifreports.com/store.

All our presentations are available

there for $2.50 each.

The TIF Illumination Project is an all-volunteer effort but we have some

serious monthly expenses to meet. Please support our work!

Make a tax-deductible investment in the CivicLab via our fiscal agent The

Investigative News Network @ http://tinyurl.com/SupportTheLab-INN.

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www.civiclab.us

www.tifreports.com