(CBS) Cook County has unveiled a new interactive tool aimed at providing more transparency on revenue collected by Tax Increment Districts.
The tool allows users to find TIFs on a map, export data and analysis, make their own maps and more. Taxpayers also received TIF information with their tax bills for the first time.
“These are but two efforts by my office to bring greater transparency to the TIF process,” Cook County Clerk David Orr said. “So many property owners don’t even know if they are in a TIF District, let alone how much of their property tax bill is going to the TIF.”
According Orr, Chicago saw a 7.65 percent decline in revenue and suburban Cook County saw a two percent decrease in revenue.
“TIF revenues declined in 2013, but there is still nearly $700 million collected by TIFs countywide, which taxpayers, for the most part, do not have a detailed, transparent accounting of,” Orr said.
Orr cites the elimination of TIF districts as one of the main reasons for the decline. Three TIF districts were eliminated in the city of Chicago and nine were eliminated in the suburbs.