The case against Mount Prospect, Ill., shows how tax increment financing districts siphon tax money from school districts and other taxing bodies, and diverts needed resources and puts pressure on taxpayers to make up the difference.
Property taxes are set to increase in Madison and St. Clair counties, and local taxpayers should know that through TIF districts, politicians divert tax dollars that could go toward schools, libraries and public services to separate accounts that foster a lack of transparency and accountability.
Though the median household income in Belleville is only $43,318, Belleville Township School District 201’s top administrators are making six-figure salaries.
Gov. Bruce Rauner has suggested funding CPS with tax increment financing, or TIF, funds; this would temporarily bail out the district, but more needs to be done to address serious concerns about Chicago’s TIF program.