Ben Joravsky on how solutions become the problem: The True TIF Tally Cook County clerk David Orr reveals—nay, publicizes—that TIFs sucked up more than $500 million in property taxes last year.
“The total amount Cook County taxpayers are paying in TIF revenue now exceeds $800 million,” Orr writes in his report. “If TIFs were their own separate taxing agency, they would collect the second largest amount of revenue in Cook County. The Chicago Public Schools rank first with $1.7 billion.”Isn't this welfare for Capitalists?
What led Orr to break the news so boldly this time around? “I’m open to TIFs as a tool, but I believe there are significant abuses,” he says. “I believe we have reached a point in the process where the public needs much more information about how this program is operating.”