Huffpost Chicago

TIF Districts Costing City Over $550M: Study

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Cook County Clerk David Orr's annual TIF report is due out tomorrow, and the news is all bleak.

On the one hand, the city's tax increment financing districts are taking too much in property tax dollars. On the other hand, they're not taking enough.

In calendar year 2007 -- remember, TIF accounting is always one year behind -- Chicagoans paid $555,310,568 in property taxes into the city's 155 TIF districts.

Read the whole story at Chicago Reader