TIFs vs Tax Increases
Crain’s takes a look at the city’s TIF income for the year. The amount of slush fund TIF income looks to be about a half a billion dollars. Or, six times the tax increase. Oh yeah, TIFs are a great idea. According to the county numbers the increment would have covered the tax increase. This is the problem with TIFs. All that increase in property value which could be used for general purposes gets diverted, and we are all forced to pay more taxes. I would much rather have a specific amount set aside for what the TIFs are supposed to be doing for a set amount of time. Of course that would make it much too easy to see where the money is going. I’m glad at least the Cook County Clerk is trying to make it a bit more visible. Between the Clerk and the Assessor I feel like there is positive change being made from the bottom. I wonder how Orr and Houlihan have been able to keep their elected positions. I guess the machine hasn’t turned their might on them yet, focusing instead on the president and the aldermen.