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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionCity of Chicago
Jurisdiction type: Municipality
Fiscal year ending In2021
Program nameTax Increment Financing (TIF)
Program purpose: Construction/rehabilitation
Statutory authority: Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-7 4.4-1
Abating jurisdiction(s): City of Chicago
Applicable taxesProperty Tax
Method of abatement: Tax Increment Financing (TIF)
Provisions for recapture: (not specified)
Gross revenue loss: $71,800,000
Reimbursement / offset: $0
Net revenue loss: $71,800,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://www.chicago.gov/city/en/depts/fin/supp_info/comprehensive_annual...