Read Bill to See Where Taxes Go, Including for TIFs
“Cook County Treasurer Maria Pappas said today that property owners would be receiving bills that show where their tax dollars are going, including for the first time how much of a payment is for a Tax Increment Financing District.
“It takes a little study, but if you read your bill you will have a better understanding of what’s behind it,” said Pappas, whose office this week mailed bills for the Second Installment of Tax Year 2013, with a due date of August 1, 2014.
Bills carry taxes from seven to 20 local governments – taxing districts – and show how much owed goes to each. These bills now will show how much of the amount owed will go to a TIF, a taxing district which receives revenues for a fund to finance development. About 220,000 of Cook County’s nearly 1.8 million bills will include TIF data.
“The TIF information is a major step forward for transparency,” Pappas said. “If government taxes your property, you should know why.””
PR NewsWire 1 July 2014.