Rental Property Tax Relief
Property Tax Policies for Affordability
Rental building owners struggle with unpredictable property taxes and property tax incentives can generate affordable units and investment. The Preservation Compact has responded on a number of levels to assist owners with property taxes – and rents by:
Property Tax Incentive Available
Multifamily property tax relief is available in Illinois! Click here for an easy reference to how the new state property tax relief policy works.
Appeals
Developing a clear guide to the property tax appeals process, a list of appeals attorneys and consultants, and information about timelines.
Related News
Affordable Housing Special Assessment Program Applications due 3/31
Last week, The Preservation Compact and Community Investment Corporation hosted a webinar on the new Cook County Affordable Housing Special Assessment Program (AHSAP.) More than 100 property owners joined to learn about the benefits and application process.
Webinar presenters included Jerry Brown of Siegel & Callahan P.C. and Christina Lynch, Brian Sibila, and Vincent Waller from the Read more
Announcing the Affordable Housing Special Assessment Program
On February 7, 2022, the Preservation Compact joined the Cook County Assessor’s office and a host of partners to announce the new Affordable Housing Special Assessment Program. Read the Assessor’s Office press release here.
Thank you to our legislative champions and our partners at the Cook County Assessor’s Office, Illinois Housing Council, Read more
New Property Tax Relief!
Check out the incentive table to see how it works and what the requirements are to qualify for the new relief!
The Preservation Compact and the Illinois Housing Council will be hosting a webinar about the new incentive in September. Be on the lookout for registration details coming soon!
The incentive establishes tiers of affordability and property tax relief:
If buildings hold 35% or […]
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