Polsky & Associates recently completed a TIF Study in which we examined the growth of equalized assessed value (EAV) in the City of Chicago’s TIF Districts as one measure of the success of the City’s TIF program. The analysis focused both on EAV growth from TIF District creation as well as on EAV growth between 2004 and 2009. Results of the TIF Study include the following:
- Since 1984, TIF Districts in the Central and Southern Regions of the City have experienced the highest annual EAV growth, with annualized EAV growth rates averaging higher than 16%. TIF Districts in the Southwest Region experienced the lowest annual EAV growth, with average annualized EAV growth rates of approximately 6%.
- Between 2004 and 2009, the average annual EAV growth rate in all of the City’s TIF Districts was approximately 14%, or about 150% higher than the City’s average annual EAV growth rate of approximately 9%.
- The average annual EAV growth rate for TIF Districts in all but one region of the City exceeded the City’s annual EAV growth rate between 2004 and 2009.
The Polsky & Associates Study analyzes data within the city’s seven regions and citywide based on publicly available information from the City and from Cook County. The Study examines TIF performance both at the Citywide level and within the City’s seven regions.
The complete TIF Study is available on the Polsky & Associates website at: