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Keep trying my man. TIF = Tax INCREMENTAL Finance district. The diverted "tax" is on the increase of property values after the TIF is established. Were it but not for the TIF there would be no increase in tax to "steal" / allocate to the TIF.
LOL, thanks again for the free lesson. I know what a TIF is, it is stealing from taxpayers to fund the dreams and visions of bureaucrats and developers. They almost never pay for themselves which is part of the reason they are outlawed in many areas.
So you know that your statement attacking them is flawed. The diverted taxes to the TIF are only on the increment for new investments, The schools and taxpayers aren't losing sh!t. Quit undermining yourself spouting BS,
Once again, thank you for the free lesson.
I see a vacant lot or a plighted downtown and realize we have a mechanism to help. You've probably never built or remodeled before? Remodeling an existing building is at least 20% more expensive than building new. You want reinvestment on the older parts of your town, yes TIF is a viable consideration.Tazewell wrote: ↑Sat Jul 24, 2021 2:15 pmOnce again, thank you for the free lesson.
TIFs subsidize development, many times for wealthy corporations and developers, and the rest of the time for misguided or egotistical bureaucrats. You are against corporate subsidies the rest of the time, but not with TIFs. That must mean that they benefit you personally, so you turn your head and pretend it is OK.
That is the first mistake of using TIFs. Government should not be in the business of rehabbing property. That should be left to the free market. If people want to live or shop in a downtown area or other blighted area, the private sector can take on the risk, not the taxpayers. That is the problem with bureaucrats and politicians. They think they can fix everything. If they fail, it is not their money that is lost, but the taxpayer's.RPlant wrote: ↑Sat Jul 24, 2021 2:56 pm I see a vacant lot or a plighted downtown and realize we have a mechanism to help. You've probably never built or remodeled before? Remodeling an existing building is at least 20% more expensive than building new. You want reinvestment on the older parts of your town, yes TIF is a viable consideration.
Well welcome to another sh!thole downtown. You've got a nice, albeit invented, narrative to go along with your position. Too bad you don't have a source for that claim. And again it only diverts the INCREMENT to the TIF. What is being deprived? The baseline tax of the original sh!thole still comes in to all of the local taxing entities who haven't lifted a finger to maintain their community.Tazewell wrote: ↑Sat Jul 24, 2021 6:24 pmThat is the first mistake of using TIFs. Government should not be in the business of rehabbing property. That should be left to the free market. If people want to live or shop in a downtown area or other blighted area, the private sector can take on the risk, not the taxpayers. That is the problem with bureaucrats and politicians. They think they can fix everything. If they fail, it is not their money that is lost, but the taxpayer's.RPlant wrote: ↑Sat Jul 24, 2021 2:56 pm I see a vacant lot or a plighted downtown and realize we have a mechanism to help. You've probably never built or remodeled before? Remodeling an existing building is at least 20% more expensive than building new. You want reinvestment on the older parts of your town, yes TIF is a viable consideration.
I would rather have a junk downtown and reasonable taxes than an OK downtown and ridiculously high taxes. Development and redevelopment needs to happen organically, not forced by crony capitalism.
Your taxes are unaffected my man. Were it but not for the TIF, the tax receipts are unchanged or even decrease due to declining value.Tazewell wrote: ↑Sat Jul 24, 2021 6:43 pmI would rather have a junk downtown and reasonable taxes than an OK downtown and ridiculously high taxes. Development and redevelopment needs to happen organically, not forced by crony capitalism.
I don't expect to change your mind if you are benefiting personally from TIFs. But for the other readers, there are tons of articles on the subject.
https://www.bloomberg.com/news/articles ... usually-no
https://reclaimdemocracy.org/tax_increment_financing/
What does this have to do with the topic? This is the LOCAL NEWS forum, and is about Mayor Ali’s lack of speaking out about the recent rash of murders of young, Black men in Peoria. Does she even have an opinion on the TWELVE violent deaths that have occurred since she took office?RPlant wrote: ↑Sat Jul 24, 2021 7:11 pmYour taxes are unaffected my man. Were it but not for the TIF, the tax receipts are unchanged or even decrease due to declining value.Tazewell wrote: ↑Sat Jul 24, 2021 6:43 pmI would rather have a junk downtown and reasonable taxes than an OK downtown and ridiculously high taxes. Development and redevelopment needs to happen organically, not forced by crony capitalism.
I don't expect to change your mind if you are benefiting personally from TIFs. But for the other readers, there are tons of articles on the subject.
https://www.bloomberg.com/news/articles ... usually-no
https://reclaimdemocracy.org/tax_increment_financing/
Keep take away from your first story: “In the end, it can be a valuable mechanism,” he said. “It’s not something I’d like to get rid of