Suffredin- For a Better Cook County  
 

Accountability
Forest Preserves
Public Safety
Cook County Budget
Forest Pres. Budget
Property Tax Appeal
Health & Hospitals
Land Bank Authority
Policy Resolutions
Unsung Heroine

 

   
 
   
   
 
   
     
  Office phone numbers:  
   
 
 

The Cook County Code of Ordinances are the current laws of Cook County.

   
 

Search current and proposed Cook County Legislation in Larry's exclusive legislative library.

   
  Cook County was created on January 15, 1831 and named after Daniel P. Cook, Member of Congress and the first Attorney from the State of Illinois.
   
     
     
     



Empty businesses may lose county tax incentives

Wednesday, May 08, 2019
Homewood-Flossmoor Chronicle

Home

News you can't get anywhere else

 
 

Empty businesses may lose county tax incentives

By Provided News on May 8, 2019 - 9:09pm
 
If within two years business properties are not leased, sold or developed, Cook County can take action to revoke the tax incentives.
 
The Cook County Board of Commissioners unanimously passed an ordinance amendment on April 25 that was sponsored by 6th District Commissioner Donna Miller. The measure will amend the revocation clause in the County Code for Class 6B through Class 8 property tax incentives.
 
The amendment adds conditions for suspension and revocation of property tax incentives received by property owners if they are not leased, sold or developed after two years of receiving incentives.
 
“Most vacant properties are well maintained, but many are not and thousands can sit empty for years, deteriorating to the point where they cannot be reused without major rehabilitation with many ultimately being demolished, leaving vacant lots in their place,” said Miller.
 
“Besides their impact on social and economic conditions, unproductive properties have a devastating effect on the fiscal condition of their cities, towns and counties and should not benefit from tax incentives if they are not used for their intended purpose,” Miller added.
 
Beginning with the 2019 assessment year, the amendment allows municipalities to notify, via application to the Cook County assessor, that a property owner has been receiving for at least two years a reduction in their assessed valuation through the property tax incentive and has not progressed with the sale, lease or development of the property.
 
The assessor’s office may suspend the incentive for up to two years and the owner must reapply to have the incentive reinstated. Absent the reapplication and supporting documentation within that time frame, the tax incentive will be revoked by the assessor.
 
“In her first months, Commissioner Donna Miller is addressing one of the most important parts of our tax system to make sure it is fair and that incentives go to those bringing business to Cook County,” said Commissioner Bridget Gainer, chairman of the Business & Economic Development Committee.
Miller said.
“They further reduce property tax collections by millions of dollars by devaluing neighboring properties, so I’m hopeful this measure will give us another tool to ensure our economic tax incentives are being put to good use,” she added.
 


Recent Headlines

Deadline for Senior Citizen Property Tax Deferral
Tuesday, January 21, 2020
Special to suffredin.org

Kaegi: 'The embrace of a failed status quo makes no sense'
Tuesday, January 21, 2020
Crain's Chicago Business

Census hiring event Wednesday in Schaumburg
Monday, January 20, 2020
Daily Herald

Proposed health oversight shift not a ‘power grab,’ Cook County officials say
Thursday, January 16, 2020
Crain's Chicago Business

Cook County Cashes In On Legal Weed
Thursday, January 16, 2020
WBEZ News

Cook County OKs 3% marijuana tax
Thursday, January 16, 2020
Crain's Chicago Business

Pace Announces Public Hearings on Proposed North Shore Service Changes
Thursday, January 16, 2020
Special to suffredin.org

Preckwinkle looks to claw back some oversight of Cook County Health
Thursday, January 16, 2020
Crain's Chicago Business

Pot taxes in Chicago could be as high as 41% by July as county moves forward with 3% levy
Wednesday, January 15, 2020
Chicago Sun-Times

Cook County Board President Toni Preckwinkle Wants Sweeping New Authority Over Cook County Health
Wednesday, January 15, 2020
WBEZ News

Preckwinkle urges businesses to help fight 'cost of segregation'
Wednesday, January 15, 2020
Daily Herald

County Finance Committee set to approve $165K settlement in ‘political discrimination’ case
Tuesday, January 14, 2020
Chicago Sun-Times

More Weed Taxes? New Hospital? What To Watch For At Cook County Board
Tuesday, January 14, 2020
WBEZ News

Seniors now able to apply for multi-year homeowners property tax break this year
Tuesday, January 14, 2020
Chicago Sun-Times

Cook County Owes $79 Million In Unclaimed Property Tax Refunds; Do You Have Money Coming?
Monday, January 13, 2020
CBS Chicago

Lincolnwood OKs sick days for workers but rejects minimum wage
Sunday, January 12, 2020
Chicago Tribune

Cook county Just Housing Ordinance affects associations
Saturday, January 11, 2020
Daily Herald

Cook County debt gets dinged
Friday, January 10, 2020
Crain's Chicago Business

Cook County President Toni Preckwinkle Again Calls For Hospitals To Treat More Uninsured
Thursday, January 09, 2020
WBEZ

Cook County Commissioners propose 3 percent cannabis sales tax in wake of legalization
Thursday, January 09, 2020
Daily Northwestern

all news items

Paid for by Larry Suffredin and not at taxpayer expense. A Haymarket Production.
^ TOP