Rahm on TIF

by Kate Piercy Not many people understand tax increment financing (TIF) very well, and the lack of transparency in the TIF process, particularly in Chicago, leaves many taxpayers unaware of exactly where TIF developments are located, how many tax dollars are going into these TIFs, and how the money is being spent. Mayoral candidates looking to fill...

by Kate Piercy

Not many people understand tax increment financing (TIF) very well, and the lack of transparency in the TIF process, particularly in Chicago, leaves many taxpayers unaware of exactly where TIF developments are located, how many tax dollars are going into these TIFs, and how the money is being spent.

Mayoral candidates looking to fill Daley’s seat are starting to talk TIF, calling for more transparency and questioning the practice of creating TIF districts in areas that are not exactly blighted.

TIF is an issue that needs to be talked about more and more so people can start better understanding it and start realizing its significant impact on their communities and pocketbooks. It’s good to see TIF has the potential to be a central issue in Chicago’s mayoral race.

For more information about TIF, see the Illinois Policy Institute’s take on the topic.