2012 TIF Analysis

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TIF spreadsheet

The City of Chicago has released the 2012 Annual Reports for its active 154 Tax Increment Financing Districts. The TIF Illumination Project did a crowdsourced analysis using Google Drive and eight volunteers. We opened each of the 154 spreadsheets and totaled up these numbers:

TIF_balance_sheet

Here are our totals:

  • Total Property Tax Increment extraction for 2012 = $449.383.905
  • Total Expenditures = $302,772,675
  • Total Fund Balance = $1.7 BILLION
  • Total revenue Ported out of TIFs = $59,464,941

The Top Ten TIFs by property tax collection are:

Near South PROPERTY TAX COLLECTED$62,767,177 EXPENDITURES$16,029,964 FUND BALANCE END OF 2012$196,806,447 TRANSFERS/PORTING$0
Canal/Congress $18,858,179 $9,335,655 $49,237,938 $0
Kinzie $18,787,508 $11,710,076 $48,824,818 $3,939,144
Near North $17,372,302 $15,460,733 $53,852,139 $0
Chicago/Kingsbury $15,359,111 $3,427,704 $35,641,495 $0
Near West $14,808,163 $1,007,220 $34,703,487 $17,940,520
Central West $14,583,434 $9,335,655 $56,159,644 $0
Midwest $14,268,696 $6,125,749 $45,104,451 $2,737,988
River South $13,981,111 $1,228,514 $54,406,262 $4,115,000
Calumet/Cermak $13,038,537 $170,343 $17,640,943 $4,000,000

The Top Ten TIFs by fund balance are:

Near South $62,767,177 $16,029,964 $196,806,447 $0
Chicago/Central Park $5,787,328 $13,686,615 $68,110,028 $0
Central West $14,583,434 $9,335,655 $56,159,644 $0
River South $13,981,111 $1,228,514 $54,406,262 $4,115,000
Near North $17,372,302 $15,460,733 $53,852,139 $0
Canal/Congress $18,858,179 $9,335,655 $49,237,938 $0
Kinzie $18,787,508 $11,710,076 $48,824,818 $3,939,144
Midwest $14,268,696 $6,125,749 $45,104,451 $2,737,988
Pilsen $9,960,298 $14,422,139 $44,989,857 $0
River West $12,802,360 $3,518,132 $44,554,332 $0

The Top Ten TIFs by expenditures are:

Near South $62,767,177 $16,029,964 $196,806,447 $0
Near North $17,372,302 $15,460,733 $53,852,139 $0
Pilsen $9,960,298 $14,422,139 $44,989,857 $0
Chicago/Central Park $5,787,328 $13,686,615 $68,110,028 $0
LaSalle/Central $0 $13,073,327 $18,783,305 $0
Kinzie $18,787,508 $11,710,076 $48,824,818 $3,939,144
North Branch South $5,430,165 $10,433,288 $25,455,128 $0
Wilson Yard $6,736,346 $9,590,037 $15,977,683 $0
Canal/Congress $18,858,179 $9,335,655 $49,237,938 $0
Central West $14,583,434 $9,335,655 $56,159,644 $0

These TIFs ported or moved money out their accounts to other TIFs:

Near West $14,808,163 $1,007,220 $34,703,487 $17,940,520
47th/King $7,161,911 $2,855,099 $28,608,572 $7,053,272
River South $13,981,111 $1,228,514 $54,406,262 $4,115,000
Calumet/Cermak $13,038,537 $170,343 $17,640,943 $4,000,000
Stockyards Annex $1,219,786 $2,816,921 $8,288,141 $3,950,064
Kinzie $18,787,508 $11,710,076 $48,824,818 $3,939,144
Northwest $6,273,873 $1,220,575 $21,030,788 $3,280,404
Midwest $14,268,696 $6,125,749 $45,104,451 $2,737,988
Belmont/Central $2,832,767 $702,542 $11,304,759 $1,868,759
Devon/Western $2,793,820 $898,547 $7,967,156 $1,539,900
63rd/Pulaski $2,401,905 $340,965 $6,358,600 $1,526,206
87th/Cottage Grove $2,014,533 $531,914 $6,614,822 $1,485,546
Stony Island/Burnside $2,678,095 $2,616,001 $7,011,800 $1,232,866
Woodlawn $2,842,187 $619,400 $12,505,730 $1,147,869
Midway $1,197,355 $38,843 $4,473,511 $856,920
Pulaski $546,830 $217,999 $6,088,233 $735,709
Western Avenue North $5,062,311 $1,092,107 $20,218,003 $635,240
119th/I-57 $2,520,330 $497,667 $6,773,745 $553,381
Avalon/South Shore $632,085 $60,793 $2,953,460 $452,327
47th/Halsted $3,041,918 $4,914,264 $14,689,274 $218,826
Michigan/Cermak $1,007,842 $2,243,910 $6,001,362 $195,000

These TIFs that collected NO property taxes in 2012 are:

51st/Lake Park
67th/Wentworth
134th/Avenue K
Calumet River
Chicago Lakeside
Kostner Avenue
LaSalle/Central
Montrose/Clarendon
West Pullman
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