How does a TIF District work?
Normally, property is taxed by several different governmental jurisdictions: the municipality, school districts, county, park district, etc. The taxes levied are allocated to each district in accordance with its tax rate. Under TIF, the increase in property taxes that result from new development are all allocated to the TIF fund. All taxing districts continue to receive property taxes based on the value of the property prior to the establishment of the TIF district (the Base EAV).

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1. What is a Tax Increment Financing (TIF) District?
2. Will a TIF District in my area create a new tax?
3. What does a TIF District in my area mean to me?
4. How does a TIF District work?
5. What can TIF funds be used for?
6. What are some of the most common myths concerning TIF Districts?