Chicago’s tax-increment financing districts are quietly sitting on a mountain of cash. In 2024 alone, they pulled in about $1.59 billion, a 16.6% jump from the year before that captured roughly 45% of the city’s property-tax revenue. That kind of haul is not exactly chump change, and it is sharpening a long-running fight over whether TIFs are still targeted redevelopment tools or have morphed into an off-the-books funding stream for the city and schools.
Clerk’s numbers: size and drivers
According to the latest report from the Cook County Clerk, total TIF revenue across Cook County topped $2 billion for 2024. Chicago’s share jumped from about $1.36 billion in 2023 to $1.59 billion this year. The clerk’s office pointed to the triennial reassessment of…..