Tax increment financing (TIF) districts do not freeze property tax revenue available to other taxing districts in Cook County; the principal effect of TIF is to raise tax rates higher than they otherwise would have been.…
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…
This article discusses a delay in the mailing of Cook County property tax bills to around November 22, a month later than 2009’s mailing. The Civic Federation says that because of the delay, local governments may have to borrow money for…
This article discusses the Civic Federation’s “Effective Property Tax Rates 1999-2008: Selected…
This blog post discusses findings in the Civic Federation’s “Effective Property Tax Rates 1999-2008:…
Chicago Retains Comparatively Low Effective Property Tax Rates (CHICAGO) The Civic Federation’s annual estimate of effective property tax rates in the six-county region of northeastern Illinois found that effective tax rates rose in 2008…
Spending Plan Exposes District to Greater Financial Risk in the Future The Civic Federation supports the FY2011 proposed Chicago Public Schools budget of $6.5 billion as an adequate plan to close a large deficit and ensure continued access…
The Civic Federation supports the Chicago Public Schools proposed $6.5 billion budget for FY2011, which is a reduction of 5.9% or $402.3 million from the proposed FY2010 budget. The proposed budget offers a short-term solution to the…
