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What is TIF?

April 26, 2017TIF

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What is TIF?

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Posted

TIF stands for “Tax Increment Financing”. TIF is a program administered by the City of Chicago’s Department of Planning and Development (DPD) to encourage and help pay for certain redevelopment projects located within designated areas of the City called “TIF Districts”. TIF funds are made available to property owners and businesses located within TIF Districts for certain improvements using the increased property tax revenue that these improvements generate. To find out if your property is located in a TIF district, or for more information about the program, please contact the City of Chicago DPD, Development Finance Division, at (312) 744-4389 or visit the Department’s website at: www.cityofchicago.org/dpd/. The streamlined application form can also be downloaded from the website.