Cook County Releases Independent Study on Modernizing Economic Development Incentives

Findings Offer Practical Roadmap for Improving Transparency, Consistency and Predictability Across County Programs

Chicago — The Cook County Office of the President, on behalf of the Property Tax (PTAX) Reform Group, today released an independent study outlining a roadmap to modernize and strengthen the County’s program of property tax incentives. Property tax incentives offer reductions in assessment levels for commercial and industrial properties by municipalities in order to attract and retain investment in Cook County communities. This is part of the PTAX Reform Group's broader mission to deliver responsible, data-driven property tax reform. Conducted by the Chicago Metropolitan Agency for Planning (CMAP) and the University of Illinois at Chicago (UIC), the study highlights opportunities to enhance transparency, predictability, and usability for communities and businesses across Cook County.

The PTAX Reform Group is the first working group of its kind in Cook County, bringing together key County offices to advance long-term improvements to the property tax system. Its mission aligns with President Toni Preckwinkle’s ongoing push for a system that works more predictably and equitably for residents, businesses and local governments.

The study found that while incentives remain critical economic development tools, their administration is inconsistent across jurisdictions, its application and review processes are difficult to navigate, and requirements vary widely among municipalities. These challenges can result in uncertainty for applicants, uneven access and unpredictable approval timelines.

The study recommends improvements focused on clearer eligibility standards, greater process transparency, consistent documentation expectations and stronger coordination among County agencies and local governments. These changes could result in a more targeted, navigable, and efficient incentive system that could support increased, equitable development in disinvested communities across the County.

“This study provides the County with a clear set of insights into how incentive tools can better support investment and economic growth,” said Cook County Board President Toni Preckwinkle. “The Property Tax Reform Group is leading a critical effort that reflects thoughtful engagement with municipalities, economic development organizations and other stakeholders. We look forward to reviewing the study’s recommendations and working with the Board of Commissioners on next steps.”

The release of this study marks the publication stage of Cook County’s broader, phased property tax reform initiative. The County will now begin a structured stakeholder review and implementation-planning process, during which municipalities, the Cook County Assessor’s Office, economic development groups, and other partners will help assess which recommendations should move forward.

While the County’s long-term reform agenda includes multiple interconnected components — such as improving commercial valuation practices, enhancing sales ratio reporting and strengthening exemption administration — the incentives study represents a foundational step in a responsible reform process designed to deliver meaningful, achievable changes.

Access the full report here. For more about the PTAX Reform Group, visit: https://www.cookcountyil.gov/service/property-tax-reform-group.