EAV data for the following TIF Districts in the following years are missing or cannot be calculated from the County’s EAV reports:
(a) 67th/Cicero (2004)
(b) Ravenswood (2005)
(c) 79th/Cicero (2005-2006)
(d) Western/Rock Island (2006)
(e) Touhy/Western (2006)
(f) Harrison/Central (2006)
(g) 73rd/University (2006)
(h) 26th/King (2006)
(i) Pratt/Ridge (2004-2006)
(j) 40th/State (2004-2009)
(k) 63rd/Ashland (2006-2009)
Based on information from the TIF District Annual Reports generated by the City of Chicago, Districts listed in (b) and (c) were created in 2005 and Districts listed in (d)-(h) and (k) were created in 2006. This may be the reason that EAV data for these TIF Districts are missing in those years.
According to a representative from the Cook County Clerk’s Office of Real Estate and Tax Services, the
EAV for a TIF District in the year in which it terminates is not available because EAV generated in that
District is included in the calculation of the City’s overall EAV in the termination year. The following TIF
Districts terminated in 2008:
(b) Central Loop
The following outliers were excluded in certain years based on growth rates higher than 350%:
(a) Drexel (3618% from 2004 to 2005)
(b) 69th/Ashland (481% from 2006 to 2007)
(c) Peterson/Cicero (704% from 2006 to 2007)
(d) 26th/King (815% from 2007 to 2008)
If these growth rates were included in our calculation of the average EAV growth rate for all of the TIF Districts in the City, the following changes would result:
(a) The 2004-2005 TIF District EAV growth rate would equal 40.92%.
(b) The 2006-2007 TIF District EAV growth rate would equal 18.67%.
(c) The 2007-2008 TIF District EAV growth rate would equal 14.28%.
Based on our analysis, no TIF Districts experienced growth rates below -75%, so no low-end outliers were excluded from the analysis.