Are TIFs widely used?

Yes. Since the establishment of the first Tax Increment Financing districts in California in 1952, TIF has been used throughout the United States in both communities large and small, rural and urban.

According the Council of Development Finance Agencies (CDFA), as of June 2006, 49 states and the District of Columbia were using Tax Increment Financing as a catalyst for local development and redevelopment. According to CDFA, only Arizona does not have a state TIF law in place.

Previous studies indicated that the Midwest leads the nation in TIFs. Four of the seven leading states in the use of Tax Increment Financing are Indiana, Minnesota, Wisconsin and Illinois. This being the case, Tax Increment Financing helps make Illinois communities competitive with communities in the Midwest as well as throughout the nation.

Show All Answers

1. What is Tax Increment Financing?
2. What is a "Tax Increment"?
3. How do TIFs improve communities?
4. Are TIFs widely used?
5. What communities in Illinois us TIF?
6. How long has TIF been around?
7. Why is there a need for Tax Increment Financing?
8. Does TIF divert money from schools?
9. What kinds of TIFs are there?
10. How is a TIF created?
11. What kind of planning goes into the development of a TIF project area?
12. What conditions must exist for an area to be designated for TIF?
13. What are the opportunities for public input?
14. Who controls TIF funds?
15. Can TIFs be changed?
16. Who monitors the TIF process?
17. When does a TIF terminate?