How can a municipality establish a property tax TIF district?

How can a municipality establish a property tax TIF district?

In order to establish a tax increment financing (TIF) district for property tax, a municipality must first put together a redevelopment plan that details what they hope to accomplish within the designated area.  The municipality must then pass the ordinances necessary to establish the TIF district.  The requirements for this process are addressed in 65 ILCS 5/11-74.

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