Illinois politicians vote to divert $300M from state coffers to fuel local spending

By Amy Korte
Despite Illinois’ billions in deficit spending and skyrocketing debt, the Illinois House of Representatives passed House Bill 278, which would transfer an additional $300 million per year of state income tax funds to local governments, continuing to prop up local overspending that fuels high property taxes.

TAGS: Illinois House of Representatives, LGDF: Local Government Distributive Fund, property taxes

Tax increment financing: A primer

By Chris Lentino
Local governments create TIF districts to encourage development in “blighted” areas; but TIFs often don’t deliver on promised economic benefits, while they do divert tax dollars from other uses and create opaque slush funds for the mayor to reward insider developers.

TAGS: Chicago, property taxes, taxes, TIF