TIF Districts

Latest Update
August, 2023
  • On August 21, 2023, the Village Board approved the establishment of the Buffalo Grove Dundee Road TIF District. The Village Board Agenda can be found here. 
  • BG has a Lake Cook TIF District created in July 2020.

Dundee Road TIF District (Est 2023)

What properties are located in the Dundee Road TIF?
Dundee Road TIF District Eligibility Study (May 2023)
Dundee Road TIF - Public Hearing Presentation (July 17, 2023 Board Meeting)

Lake Cook Road TIF District (Est 2020)

What Properties are in the Lake Cook TIF?
TIF District Eligibility Study (March 2020)
Annual TIF Reports
Key Points
  • To help spur private development, the Village is exploring a Tax Increment Financing (TIF) District along the Dundee Road.
  • A TIF is a commonly used economic development tool, which helps municipalities make needed improvements (roads and sewers) or helps attract private development.TIF Chart
  • TIF generates a pool of money used for reinvestment within the TIF area. When a TIF district is created, the property values of the parcels within the district are set at a base equalized assessed value (EAV). Taxing bodies (Village, county, township, school districts, etc) continue to collect property taxes based upon the  base EAV. Any increase in the EAV generates the TIF increment, which is then available for projects within the TIF district.
  • TIF is not a new tax.   Property owners within the district continue to pay their normal property taxes. At the end of the TIF district's 23-year life, all real estate tax revenues are again shared proportionately by the taxing bodies based on their individual tax rates.
  • Read more with this Resource Guide to TIF. 

General TIF FAQs

What is a Tax Increment Financing (TIF)?
How does TIF Work?
When Is it Appropriate to Consider a TIF?
How Does a TIF Impact Property Taxes?
What other municipalies in Illinois use TIF?