Document Type
Article
Media Type
Text
Abstract
Tax increment financing (TIF) is a controversial economic development tool which has been implemented over three hundred times in Illinois since its legislative authorization in 1977. Its premise relies on the expectation that the property value of an economic development project site as well as a certain amount of contiguous property will be enhanced as a result of the project. The tax increment indicates the additional tax revenue from these properties. This tax increment is allocated exclusively to the municipality for use in the TIF district. In this address, the author analyzes the basic components of TIF in Illinois as well as the positive and negative aspects of this system. The author acknowledges TIF as a viable economic tool but criticizes the TIF law and its implementation and suggests ways for implementing TIF effectively.
First Page
441
Last Page
457
Publication Date
7-1-1997
Department
Other
ISSN
0734-1490
Language
eng
Publisher
Northern Illinois University Law Review
Recommended Citation
Peddle, Michael T.
(1997)
"TIF in Illinois: The Good, the Bad, and the Ugly,"
Northern Illinois University Law Review: Vol. 17:
Iss.
3, Article 8.
Suggested Citation
Michael T. Peddle, TIF in Illinois: The Good, the Bad, and the Ugly, 17 N. Ill. U. L. Rev. 441 (1997).
