'Even renters, who may never even see a property tax bill. Their landlords generally pass on the tax hikes in the form of higher rents.' | bennyjshow
A TIF limits the amount of property in a TIF district that the taxing bodies—the park district, CPS, the city, the county, etc.—can tax.
Now, it is true that the south side transit TIF is not an “additional tax levy,” as the CTA spokeswoman puts it. But so what? That statement is classic misdirection, intended to confuse you. There are more than one ways to hike your property taxes. The government can budget to spend more money—i.e., raise the tax levy. Or they can increase the tax rate.
Instead, it would be generated throughout the city. Because—one more time—TIFs raise everyone’s property taxes.
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