Tuesday, November 10, 2009
Chicagoland / Politics How Much Does the Mayor Pay into TIFs?
Posted by Whet Moser on Tue, Nov 10, 2009 at 5:08 PM
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"By contrast, cash-strapped schools are getting a mere 3.9 percent of the Daley's property tax dollars. This goes to show how much strain the TIF system are putting on those local taxing bodies entrusted to deliver education and other public services."
This statement isn't accurate. Local taxing bodies are free to levy as much as they need, TIF or no TIF - the only difference is that everyone pays more in taxes to fund both the TIF and the schools. If the TIF Daley is in didn't exist, he would still pay almost as much in taxes: he would pay the taxing bodies more, and everyone else would pay them slightly less. So really, the ones strained by TIFs are the taxpayers, not the taxing bodies.
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