Chicago 2022 TIF Report

As of 1/1/23 there was $2.5 billion sitting in Chicago TIF accounts!

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• Chicago had 131 active TIFs in 2022.

• Since the TIF program was created in 1986 Chicago has created 186 TIF districts. A total of 55 TIFs have been closed or terminated. Seven TIFs were set to terminate at the end of 2022: Archer Courts (#67), Jefferson Park (#57), Montclare (#102), North Branch South (#34), Peterson/Cicero (#90), Portage Park (#58), and Roosevelt/Union (#68). Since these TIFs were active during 2022 and extracted revenues, they are included in this report.

• There were two new TIFs created in 2022: Cicero/Stevenson (#185) which will expire in 2046, and the Red Line Extension (# 186) – which will have an extended life through 2058.

• Total Property Tax Increment extraction or removal for 2022 = $959,702,231. This is the amount of property taxes dollars removed by Chicago’s TIF districts and diverted from local units of government.

• Chicago’s 131 active TIFs have collected a total of $8,455,620,581 since they were created. Chicago’s 55 terminated TIFs extracted $2,753,929,898 in property taxes while they were active. Chicago’s TIFs (active and inactive) have removed a staggering total of $11,209,550,479 in property taxes from 1986 through 2022. This is the total takings from Chicago’s TIF Program as best as can be reconstructed from available records. There are no TIF annual reports available from 1986 through 1996.

• Our analysis reveals that as of January 1, 2023, there was $2,537,526,915 in property tax revenue collected from Chicago property owners sitting in Chicago’s 131 active TIF accounts.

***DOWNLOAD THE PDF OF THE 2022 CHICAGO TIF REPORT BELOW***