Announcing the National TIF Illumination Project
Billions of tax dollars are given to private developers every year through a process that is shrouded in secrecy.
August 22, 2016
In These Times is partnering with Tom Tresser and the TIF Illumination Project to launch a national review of Tax Increment Financing districts (TIFs), the results of which will be published in a special report in early 2017.
TIFs are a poorly understood but widely used tool for creating development and economic activity in so-called “blighted” areas. They extract property tax dollars and sequester those funds in funds controlled by (usually) the local mayor. These monies are then given to private developers for projects such as shopping malls, hotels, condo construction and factory building. The funds are also used for civic improvements and public buildings. The entire process is shrouded in secrecy and difficult to report. Until now.
“Thanks to a grant from the Goodman Institute and with the assistance of five summer interns we are going to render an account of ALL the TIF across the USA,” said project organizer Tresser. “How many TIFs? How much public dollars are affected annually? No one knows. My rough guess is that we are looking at 6,000 TIF districts across 47 states that suck up $20 billion in property taxes annually—placing that money into a very BIG black box. But it’s just a guess. By the end of the summer we’ll know.”
Want to help with the investigation?
We are actively seeking collaborators for this project. If you or your organization is worried about TIFs or if you have already looked into TIFs in your community and would like to be part of this investigation, let us know:
