To meet their residents’ needs, municipalities depend on a combination of local revenues such as property tax and state-generated revenues including income tax. Therefore, state tax structures and formulas for allocating revenues to municipalities affect their ability to fund basic…
The tax structure affects a government’s ability to attract and retain businesses and provide public services for its residents. Each of the hundreds of local governments in northeastern Illinois differs in its tax base, service and infrastructure needs, and ability…
In Illinois, municipalities and counties receive sales tax revenue based on the location of sales. This structure has resulted in the rise of an economic development incentive called a sales tax rebate, in which municipalities and counties agree to rebate…
The use of property tax classification in Cook County makes it difficult to encourage and strengthen non-residential development in existing communities. In particular, commercial and industrial properties in Cook County may experience higher tax burdens as compared to similar properties…
The structure and duration of sales tax rebate agreements greatly influence the level of public funds local governments use to attract and retain businesses and developments. CMAP’s analysis of the Illinois Department of Revenue (IDOR) sales tax agreement database reveals…