The Illinois General Assembly passed over 600 new laws in 2019. Some helped taxpayers, but many more hurt as they spent $85 billion while doing little to fix the pension crisis.
Illinoisans will soon see their property tax bills listing tax increment financing districts and the amounts the districts are absorbing. Debate about the cost versus benefit should follow.
Despite its residents dealing with a high county and state tax burden, the village of Rosemont has spent millions on frivolous entertainment costs in recent years. Taxpayers shelled out $65,000 for pizza joint.
A new report analyzes the effects of “tax increment financing” on communities across the nation – and calls into question the merits of the widely used development tool.
MillerCoors opened its Chicago headquarters in 2010. Eight years and nearly $6 million in subsidies later, the beer giant has been hammered by a heavy round of layoffs.
Nearly a third of property tax revenue in Chicago is diverted into 143 TIF districts controlled by the mayor, nearly half of which are located in affluent neighborhoods.