Tax Savings Program
Tax Savings Program
You can save between $500 and $1500 on your property taxes. It’s true!!
Applications CLOSED on 11/30/18.
Time to submit has expired, please watch the site for next year.
The Property Tax Code has been amended by the Illinois General Assembly which will continue to offer owners property tax savings for another ten years expiring in the year 2024. Properties located within a qualified Township and census tract that have a housing choice voucher contract can save between $500 and $1,500 on property taxes.
To qualify, the Housing Authority must certify the following:
- The property is located in a qualified Township
- The property is located within a census tract that has a poverty level below 10%, using the most recent Census data.
- At least one tenant that was renting at this property had a housing choice voucher on January 1st of the taxable year.
- The unit passed the most recent Housing Quality Standards inspection and is in compliance with local building codes.
- The owner has completed an application form and submitted the $50 fee (forms are available on our website)
Landlords receive up to a 19% reduction in the Equalized Assessed Value (EAV) of the property depending on the number of qualified units. Qualified units are limited to two units or 20% of total units in building, whichever is greater and a maximum of 10 tax years to receive abatement.
The qualified Townships are: Cuba, Ela, Fremont, Libertyville, Moraine, Newport, Shields, Vernon, Warren, Wauconda, and West Deerfield. Some of the qualifying areas are; Barrington, Beach Park (Newport Twp only), Buffalo Grove, Deerfield, Gages Lake, Gurnee (most census tracts) Highland Park, Highwood, Island Lake, Lake Bluff, Lake Forest, Lake Zurich, Libertyville, Mundelein, Park City (Warren Twp only) Prairie View, Round Lake (Freemont Twp only), Vernon Hills, Wadsworth, Wauconda, and Wildwood.
Call or email Jody Jewell with any questions.
847-223-1170 extension 2490
The deadline to submit an application was November 30, 2018.