Property tax incentives

The Cook County Department of Planning and Development, which is within the Cook County Bureau of Economic Development, coordinates an array of property tax incentives, as outlined below, in cooperation with the Cook County Assessor's Office. These incentives encourage private business investment, employment, the revitalization of properties and rehabilitation of landmark buildings. These initiatives assist businesses by reducing the assessment level over a designated period of time. 

NOTE: All property tax incentive applications must have the support and consent of the municipality in order to be considered. 

property tax incentive types

Class 6b  

• Property must be used for industrial purposes, and the project must involve new construction, substantial rehabilitation or the re-occupancy of abandoned property
• Approved property will be assessed at 10 percent for 10 years, 15 percent for the 11th year and 20 percent for the 12th year (standard assessment rate is 25 percent)
• Incentive is renewable
• Class 6b - Sustainable Emergency Relief (SER) Program 
  • Applicant must have been occupying premises for at least 10 years
  • Building must be at least 20 years old
  • Must demonstrate evidence of economic hardship
  • Property must be in an area that demonstrates higher-than-normal industrial vacancy
• Class 6b - Critical Emergency Employee Retention Modification (CEERM) Program
  • There has been no purchase for value
  • Buildings and other structures have been vacant and unused for at least three continuous months
  • Applicant must create or maintain at least 250 jobs at the project site

Classes 7a and 7b 

• Property must be used for commercial purposes, and the project must involve new construction, substantial rehabilitation or the re-occupancy of abandoned property
• 7a: Projects less than $2 million
• 7b: Projects more than $2 million
• Approved property will be assessed at 10 percent for 10 years, 15 percent for the 11th year and 20 percent for the 12th year (standard assessment rate is 25 percent)
• Both these incentives are renewable

Class 7c

• Property must be used for commercial development involving newly constructed buildings or other structures
• Approved property will be assessed at 10 percent for three years, 15 percent for the fourth year and 20 percent for the fifth year (standard assessment rate is 25 percent)
• Incentive is renewable

Class 7d

• Property must be used for development of a grocery store in a food desert, as defined by the Illinois Department of Public Health
• Approved property will be assessed at 10 percent for 10 years, 15 percent for the 11th year and 20 percent for the 12th year (standard assessment rate is 25 percent)
• Incentive is renewable

Class 8

• Property must be in Bloom, Bremen, Calumet, Rich or Thornton Township
• Property must be used for industrial or commercial development
• Approved property will be assessed at 10 percent for 10 years, 15 percent for the 11th year and 20 percent for the 12th year (standard assessment rate is 25 percent)
• Incentive is renewable
• Class 8 - Sustainable Emergency Relief (SER) Program 
  • Applicable to long-term industrial tenants in Cook County for 10 years
  • Must demonstrate evidence of economic hardship
  • Age of facility must be documented
  • Property must be in an area that demonstrates higher-than-normal industrial vacancy
• Class 8 - Critical Emergency Employee Retention Modification (CEERM) Program
  • There has been no purchase for value
  • Buildings and other structures have been vacant and unused for at least three continuous months
  • Applicant must create or maintain at least 250 jobs at the project site

Class 8a MICRO

• Property must be used by a business that is certified by the State of Illinois' MICRO Act
• Property must be in a municipally designated MICRO area
• Property must be used for either commercial or industrial purposes, and must involve new construction, substantial rehabilitation or the re-occupancy of abandoned property
• Approved property will be assessed at 10 percent for 30 years (standard assessment rate is 25 percent)
• Incentive is not renewable

Questions?

For more information, email Sheryl Stewart-Caldwell, Cook County Department of Planning and Development project director, at sheryl.caldwell@cookcountyil.gov.