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FY 2016
ANNUAL TAX INCREMENT FINANCESTATE OF ILLINOIS
COMPTROLLER
SUSANA A. MENDOZAREPORTName of Municipality: City of Chicago
County:
Community Code:Reporting Fiscal Year:
Fiscal Year End:2016
12/31/2016016/620/30
TIF
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How to fill out tax increment finance
How to fill out tax increment finance
01
Gather all necessary financial documents and information.
02
Complete the application for tax increment finance, making sure to fill out all required sections accurately.
03
Submit the application to the appropriate tax authority or government agency for review.
04
Attend any meetings or hearings related to the application, if required.
05
Follow up with the tax authority or government agency to ensure the application is processed in a timely manner.
Who needs tax increment finance?
01
Developers looking to fund infrastructure or redevelopment projects in blighted areas.
02
Municipalities seeking to encourage economic development in specific areas through tax incentives.
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What is tax increment finance?
Tax increment finance is a tool used by local governments to finance development projects in a specific area by capturing the incremental increase in property tax revenue.
Who is required to file tax increment finance?
Local governments, specifically those implementing tax increment financing districts, are required to file tax increment finance reports.
How to fill out tax increment finance?
Tax increment finance reports can typically be filled out online or submitted in person to the appropriate local government office.
What is the purpose of tax increment finance?
The purpose of tax increment finance is to promote economic development, redevelopment, and infrastructure improvements in designated areas.
What information must be reported on tax increment finance?
Information such as the assessed property values, projected tax increments, and details of the development projects financed using tax increment funds must be reported on tax increment finance.
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