State Capitol – Gov Rauner and Republican Senate Leader Bill Brady, brief the press just prior to the Illinois Senate coming into session to hold a vote on whether to override the Governor’s veto of SB-1, the Education Funding bill.
The governor said in part that he is in agreement with the Chicago Teachers’ Union, that is against the use of TIFs to hold back property taxes from schools. According to the governor, the City of Chicago has withheld the equivalent of $19,000 in property tax values per pupil from their schools, by the implementation of Tax Increment Financing districts.
Gov Rauner said that while other districts also use TIFs, Chicago does it far more extensively. He said by contrast the rest of the state removes about $3,900 per pupil in property tax values.
In essence, the Governor is saying that Chicago is gaming the education funding system by removing so much of it’s properties from taxation, they can then claim that they need aid from the state.
The Governor said, Chicago says we are taking FIVE TIMES as much TIFS, diversion of money, as the rest of the state. And then they ask the rest of the state to bail them out.