TIF (tax increment financing) is a favorite weapon of mass taxation used by Illinois municipal governments to thwart meagre Statutory taxpayer protections.
TIF allows 35 years of inflationary property taxation to be diverted from schools and other taxing bodies into the pockets of lucky landowners chosen at the whim of municipal rulers. Schools and taxing bodies still get their money; non-TIF taxpayers are forced to 'pick up' the entire amount of tax levies which would normally have been borne by ALL property owners. TIF funds are derived from a sort of tortured double-taxation.
The worst thing about TIF as deployed by the Illinois political industry is that not only are property tax rates driven higher due to 35 years of inflationary tax burden being forced upon a smaller pool of obligated taxable properties, but enormous new social service provision obligations are created by TIF development. These are the additional costs of schools, roads, police, fire&rescue, government, libraries, and parks which TIF freeriders are required by law to be provided but by-and-large forbidden by law to pay for (because their taxes go to TIF, and TIF money can only be spent on TIF).
Illinois political industry vigorously resists TIF reform.
Taxpayers should employ the 'good for goose/good for gander' strategy in self defense.
Can TIF be deployed in such a way that reverses TIF from being a tool for crony-capitalist political rewards to friends-of-the-regime at the expense of faceless taxpayers?
Absolutely.