Sorting by


The share of property taxes collected by the city and claimed by Chicago's tax increment finance districts increased by approximately 6.3% in 2022. A total of $1.3 billion was poured into the city's 127 TIF funds, accounting for 41% of the property tax revenue. The reassessment of property values contributed to this growth. The transit TIF district, created to fund the renovation of the CTA's Red and Purple train lines, generated the highest revenue. Mayor Brandon Johnson declared a surplus of $433.8 million in TIF funds, using half of it to bridge the city's 2024 budget gap.

Continue to full article