Explains Effect of TIF on Local Governments in Cook County (CHICAGO) The Civic Federation released today the third in a series of four primers that explain how the property tax system in Cook County works—and doesn’t work. “Property Tax…
The purpose of this report is to describe how property taxes are extended in Cook County, Illinois. It defines tax extension, explains the mechanics of calculating rate limits and tax caps, and describes the effects of Tax Increment…
A tax increment financing (TIF) transparency bill (Public Act 096-1335) passed by the Illinois legislature in May and signed into law by Governor Pat Quinn on…
On June 15, 2010 the Chicago Board of Education approved measures to cope with the school district’s…
On May 4, 2010 the Illinois General Assembly passed a bill that will significantly improve the transparency of information about Tax Increment Financing districts in Illinois. Senate Bill 3152 implements a number of the…
When the Chicago City Council approved the Tax Increment Financing (TIF) Sunshine Amendment in April of 2009 that called for the creation of a consolidated and enhanced TIF information website, the City took a significant step towards…
The redesign of the Civic Federation website in July has provided the public, government officials, and the media better access to the Federation’s analyses of government services in Illinois. The regularly-updated Civic Federation blog…
The Civic Federation's legislative priorities for 2010 include public pension reform, requiring state government to develop and implement performance measurement and a capital improvement plan, the dissolving of the Illinois International…
The Civic Federation opposes the FY2010 City of Chicago budget of $6.14 billion because it is unsustainable and relies too heavily on one-time reserve funds to close a $520.0 million budget deficit. The proposed drastic draw down of long-…
Under the old state statute that limited the property tax rates of the Chicago Public Schools, Tax Increment Financing directly restricted property tax revenues available to CPS because it froze part of the equalized assessed value (EAV)—…
