From Jake Griffin of the Daily Herald:
“Increasingly, that cost is borne by homeowners rather than businesses.
“Nearly two-thirds of the property taxes collected in Illinois come from homeowners.
“In 1999, residential property taxes made up barely half the total property tax collection in the state.”
“Increasingly, that cost is borne by homeowners rather than businesses.”
Yeah, because every time we talk about so much as closing a tax credit for some niche industry someone is shrieking about entrepreneurs.
White homeowners.
Many Tax Increment Finance (TIF) expenditures directly or indirectly subsidize a business / investor / LLC, or are unnecessary beautification projects.
What percent are really necessary?
There is wide latitude for such expenditures.
An example would be the 4 monuments / monoliths on Route 14 in the Virginia Street TIF in Crystal Lake, to designate the beginning and end of the TIF district, which cost a total of $64,000.
http://mchenrycountyblog.com/2015/05/05/cl-tif-districts