TIFs: A mythical pot of gold for local governments

By Vincent Caruso

03/15/2018

Tax increment financing creates elusive troves of property tax “gold” – by depleting funds from local governments the mechanism intends to serve.

TAGS: property taxes, TIF: Tax Increment Financing

Collinsville, Granite City sales taxes would rival Chicago’s under tax hike referendum

By Austin Berg

03/09/2018

Madison County voters have twice turned down a proposed sales-tax hike to fund school facilities projects, but the proposal will appear again on March primary ballots. If approved, shoppers in Collinsville and Granite City would see some of the highest sales tax rates in the country.

TAGS: Metro East, property taxes, sales tax, taxes, TIF: Tax Increment Financing

Wheeling approves $7M handout to developer

By Joe Kaiser

03/09/2018

Despite residents seeing some of the highest property tax bills in the state, the Wheeling Board of Trustees approved a preliminary agreement giving a developer nearly $7 million to build apartments and retail space in the village.

TAGS: property taxes, TIF: Tax Increment Financing, Wheeling

House bill would require referendum before local tax hikes

By Vincent Caruso

02/03/2018

A new bill introduced in the General Assembly would prohibit local lawmakers from passing tax hikes without voters' permission.

TAGS: ballot referendums, taxes, TIF: Tax Increment Financing

Chicago City Council approves $5.5 million TIF subsidy for private health provider

By Vincent Caruso

01/19/2018

Under the guise of rehabilitating underserved communities, Chicago City Council approved another tax transfer to a private company.

TAGS: Chicago, CPS: Chicago Public Schools, property taxes, TIF: Tax Increment Financing

Christmas wish list: 12 gifts for Illinois taxpayers in 2018

By Vincent Caruso

12/22/2017

After a punishing 2017, Illinoisans are in dire need of reform from Springfield.

TAGS: balanced budget requirement, gerrymandering, higher education, income tax, Mike Madigan, pensions, property taxes, term limits, TIF: Tax Increment Financing, unions

Tax Increment Financing: Christmas year-round for local politicians, developers

By Chris Lentino

12/19/2017

Statewide use of slush funds ensures it’s Christmas every day for political leaders and their chosen developers.

TAGS: Chicago, pensions, real estate, taxes, TIF: Tax Increment Financing

Chicago poised to divert millions of tax dollars to private health provider

By Vincent Caruso

11/15/2017

Under the guise of rehabilitating underserved communities, City Hall preps another massive tax transfer to a private company.

TAGS: Chicago, Rahm Emanuel, TIF: Tax Increment Financing

Rahm’s new budget packed with fee hikes and false hope

By Chris Lentino

10/19/2017

In his annual budget address, Chicago Mayor Rahm Emanuel painted a rosy picture about city finances while selling more tax and fee increases.

TAGS: amusement tax, budget, Chicago, Rahm Emanuel, taxes, TIF: Tax Increment Financing

Wave of local tax and fee increases sweeping Illinois

By Brendan Bakala

10/16/2017

Cities and villages across the state are raising taxes or implementing new ones for a variety of functions, from attracting a fast-food restaurant to catching up on rising pension costs.

TAGS: Bloomington, consolidation, fees, local government, local government consolidation, municipal pensions, naperville, New Lenox, Oswego, pensions, peoria, property taxes, sales tax, taxes, TIF: Tax Increment Financing, Wheaton