Organization Claims $2 Billion in Taxpayer Savings Without TIFs

Illinois Policy Institute says Cook County TIF districts diverted funds from schools, parks, and other public services.

Apr. 8, 2026 at 1:55pm

Got story updates? Submit your updates here. ›

A conservative-leaning organization claims that Cook County taxpayers could have saved $2 billion last year if there were no tax-increment financing (TIF) districts in the area. The Illinois Policy Institute argues that TIF funds, which are used for development projects, should instead go to schools, parks, and other public services.

Why it matters

TIFs are a controversial economic development tool that some say divert much-needed funds from public services, while others argue they spur growth in blighted areas. This report from the Illinois Policy Institute, which advocates for smaller government, adds fuel to the ongoing debate over the role and impact of TIFs.

The details

According to the report, the total property tax levy for taxing bodies in Cook County was $19.2 billion in 2024. That year, the county's 404 TIF districts saw nearly $28 billion in increased property values, with $2 billion in property taxes going back to the TIF districts instead of schools, parks, and other public services. The Illinois Policy Institute claims this $2 billion could have reduced taxpayers' bills if it wasn't diverted to TIF-funded development projects.

  • The report was published on April 8, 2026, shortly after Cook County property tax bills were due.
  • The $2 billion figure cited is for the 2024 tax year.

The players

Illinois Policy Institute

A conservative-leaning organization that advocates for smaller government and has published this report critical of tax-increment financing (TIF) districts in Cook County.

Cook County

The county in Illinois that contains the city of Chicago and 404 TIF districts, which the report says diverted $2 billion from taxpayers in 2024.

Got photos? Submit your photos here. ›

What’s next

Legislation is under consideration in the Illinois state legislature to change the rules around TIF districts and how municipalities can declare 'surplus' funds.

The takeaway

This report from the Illinois Policy Institute highlights the ongoing debate over the use of tax-increment financing (TIF) districts, which some say divert much-needed funds from public services while others argue they spur economic development in blighted areas. The $2 billion figure cited is likely to fuel calls for TIF reform in Illinois.