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The TIF Illumination Project
 

The TIF Illumination Project

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This presentation was given May 29, 2013 for UIC's Social Justice Initiative - http://socialjustice.uic.edu. The TIF Illumination Project is online at http://www.tifreports.com. It is a work of the ...

This presentation was given May 29, 2013 for UIC's Social Justice Initiative - http://socialjustice.uic.edu. The TIF Illumination Project is online at http://www.tifreports.com. It is a work of the CivicLab, http://www.civiclab.us. Sign our online petition to put TIFs on the property tax bill -

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    The TIF Illumination Project The TIF Illumination Project Presentation Transcript

    • May 29, 2013Tom Tresser
    • 2What are TIFs?
    • 3What are TIFs?• Created by municipality (statestatute)• Boundaries cross political andcommunity boundaries• Designed to subsidize somebusiness project in “blighted” orunder-served area• Captures “incremental” propertytaxes ABOVE base when districtwas created• Lasts 23 years
    • 4What are TIFs?Under state law, areas proposed for TIFdesignation must possess numerous blightingfactors to be eligible:• Age• Obsolescence• Code violations• Excessive vacancies• Overcrowding of facilities
    • 5Better Government Association
    • 6How Do TIFs Work?When the TIF is created,the city tallies up all theproperty taxesgenerated by district inthat year (called the"base" amount). Afterthat, all property taxincreases above thebase (the "increment")are channeled to the TIFdistrict.The property taxescollected fromproperties inside thedistrict BEFORE thedistrict was createdthat go to units ofgovernment staysFLAT for the life of theTIF (23 years).
    • 7Where are TIFs?• All over Chicago and CookCounty = 443 TIFs in 2011• 163 in city of Chicago• Additional 280 in suburbanCook County
    • TIF 101 8Where are TIFs?
    • TIF 101 9Where are TIFs?Source: Cook County Clerk
    • 10
    • TIF 101 11How Much Revenue Do TIFs Collect?Source: Cook County Clerk
    • TIF 101 122011 TOTAL TIF REVENUE FOR COOK COUNTYCity of ChicagoTIFs diverted $454 MILLIONSuburban Cook CountyTIFs diverted $275 MILLIONTOTAL FOR 2011 = $729 MILLIONHow Much Revenue Do TIFs Collect?
    • TIF 101 13How Much Revenue Do TIFs Collect?TIFs extracted $454 million in 2011.That # is 53% of the TOTAL amountof property taxes that went to the cityfor its operations!
    • • We are told that TIFs have NO impact on our property taxes.• This bill is from a property inside the Englewood TIF.• It shows “0.00” impact on this person’s bill. Nothing.
    • The 27th Ward TIFs 15The civics bookssay our propertytaxes are distributedlike this…But in 2011 ourproperty taxes inChicago wereREALLY distributedlike this…
    • TIF 101 16How Much Revenue Do TIFs Collect?Ouch!$4.5 BILLIONDIVERTEDSINCE 1986!
    • 17How Much Revenue Do TIFs Collect?
    • 18What are TIFs?
    • 19
    • 20This spreadsheet has 4,588 rows!
    • 21
    • TIF 101 22
    • 23Click here to openthe 163 PDFannual reports.One by one.
    • 24
    • 25
    • 26THE CITY HAD$1.7 BILLION INUNSPENT TIFFUNDS AT THE ENDOF 2011!
    • 27Is YOURward a TIFwinner orloser?
    • 28LET’S LOOK AT HOW TIFs WORK ON AWARD-BY-WARD BASIS.CODERS, RESEARCHERS, DESIGNERS,INVESTIGATORS, ORGANIZERS.ALL VOLUNTEERS RIGHT NOW.
    • 29First ward selected for investigation = 27th Ward, Near North Side – 12 TIFs
    • 30Need to know:- Names of TIFs, annual report of revenue- Property Index Number (PIN) data for the ward and for the 12 TIFs- How much property taxes collected by each TIF- Distribution formula for all PINs – where to send the property taxescollected?- Shape files for the ward- Shape files for the 12 TIFs- Projects funded by TIFs, regardless of the sponsoring agency
    • 31
    • 32ThisNot this
    • 33
    • TIF 101 34
    • TIF 101 35
    • 36
    • 37The way it’s supposed to work
    • TIF 101 38
    • 39The way it really works in the27th Ward
    • 40
    • 41
    • 42
    • TIF 101 43
    • TIF 101 44
    • 45
    • 47
    • 48RECENT TIF CONTROVERSY
    • TIF FUNDS INTO THE 46th WARD?LincolnPark
    • 50
    • 51The Problem Is State-WideIn Illinois, 455 municipalities have1,220 TIF Districts.In 2010 TIFs extracted $1.15BILLION in property taxes!In 2010, across the state, 414 TIFdistricts were in “non-compliance” fornot filing any or proper financialstatements, according to The Officeof the State Comptroller. That’s 44%of all Illinois TIFs!?
    • The 27th Ward TIFs 52
    • The 27th Ward TIFs 53Neighbors In 12 Wards Organizing TIF Town Meetings!
    • 54
    • 55• Bridgeport & McKinley Park (11th, 12th Wards) –Wednesday, June 5, 6:30pm• West Rogers Park (50th Ward) – Tuesday, June11, 6:30pm (featuring The Chicago Reader’s BenJoravsky!)• Rogers Park (49th Ward) – Monday, June 17, 7pm
    • ACTION STEPS!WE NEED YOUR HELP!56IT’S EASY TO HELP US –JUST GO TO…http://tinyurl.com/Support-CLtom@civiclab.us – 312-804-3230