TIF Take = 34% Of All Property Tax Revenues!

Here is the real break down of where our property taxes are going:

City-Wide_PT_distribution-2011

 

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.

How temping is it to keep this HUGE stream of funds off the books and away from the eyes of the tax-paying public?

 

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