TIF Take = 34% Of All Property Tax Revenues!
Here is the real break down of where our property taxes are going:
TIFs are collecting and keeping 34% of the property taxes collected by the City of Chicago!
According to the Civic Federation’s analysis of Chicago’s 2013 budget, the city took in $880 million in property taxes in 2011. In 2011 the city’s 163 TIF districts extracted $454 million in property taxes! That’s a number equal to 52% of the total property tax revenues going into off-the-book accounts controlled by the mayor and a handful of powerful insiders.