Amari & llocallo
Chicago

(312) 255-8550

 
Bloomingdale

(630) 307-3700

 

Local governments sometimes grant property tax incentives to property owners in the interest of encouraging private business investment, local employment, economic revitalization of geographical areas suffering economic stagnation, or preserving and rehabilitating landmark buildings. For example, Cook County offers incentives such as the Class 6(b), Class 7(b), and Class C for qualifying properties to encourage behavior such as remediation of contaminated land, rehabilitation of commercial property, or development of new industrial facilities.

When granted, such incentives reduce the property’s level of assessment (the percentage of market value at which the property is assessed) and hence may have a remarkable effect on the ultimate amount of real estate taxes to be paid. Amari & Locallo represents property owners in matters related to such incentives, often appearing in front of local governmental bodies in order to advocate for the granting or continuation of such incentives.