Are my taxes higher because my property is in a TIF Area?

To answer this question, it is useful to assume a situation in which two real estate parcels are exactly the same in the following respects: each has the same valuation, Property Class, tax credits and exemptions, and Consolidated Tax Levy Rate. The only difference between the two is that one is in a TIF Area and the other is not. The result is that both properties will pay exactly the same amount of taxes. The difference is a TIF Area is not how much you pay in taxes, but who receives the taxes.

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1. What is a TIF Area?
2. What is the difference between a TIF Area and a TIF Tax District?
3. How is a TIF Area created?
4. How do taxes in a TIF Area work?
5. What happens to the “base” taxes and the “increment” taxes?
6. Who is the “TIF Authority”?
7. The TIF Authority is the governmental body that created the TIF Area. Usually a city, it could also be a county, a community college, or rural improvement zone.
8. Do all of the taxes on the increment value go to pay TIF debt?
9. Are my taxes higher because my property is in a TIF Area?
10. What qualifies to be paid from taxes on increment value?