TIF revenue drops in suburbs, clerk says

The collective revenue of suburban Cook County tax increment financing districts dropped about 2 percent in 2013, Cook County Clerk David Orr said Wednesday. Orr's 2013 report says $683 million in revenue was collected by 435 active TIFs in Cook County last year. Chicago's revenue declined 7.65 percent. "There is still nearly $700 million collected by TIFs countywide, which taxpayers, for the most part, do not have a detailed, transparent accounting of," Orr said, introducing his office's new TIF mapping tool, called TIF Viewer, at cookcountyclerk.com. The largest suburban TIFs are: Glenview-Naval Air Station ($30.7 million); Rosemont-1 ($15.0 million) and Rosemont-River Road ($11.5 million). However, Rosemont-1 lost $1.7 million in 2013, the report says.