Lake County Property Tax Abatement Program
To create a level playing field, Lake County Partners (LCP), in collaboration with local public and private sector leaders, developed a framework to assist prospective and expanding companies to reduce any financial gap in implementing capital investments and job creation in Lake County versus out of state locations.
| Program Details |
| Program Description: |
According to Illinois Statue 35 ILCS 200/18-165, any taxing jurisdiction, such as a municipal and school board, may vote in favor of allowing the Clerk of the County to abate a portion of an industrial or commercial property’s taxes. |
| Eligibility: |
On a case by case basis, each property tax abatement application will be evaluated on the following criteria:
- Economic Impact: Job creation and retention, capital investment in land, equipment and buildings.
- Fiscal Impact: New Estimated property tax generated by business expansion.
- Strategic Impact: type of industry, median salary and quality benefits for employees.
- Other impacts under consideration: local labor involved in the construction project, business is minority or women-owned, site is either a brownfield, vacant or under-utilized or LEED certified.
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| Term: |
Term of Abatement shall not exceed 10 years nor should the aggregate amount of abatements shall exceed $4,000,000. |
| Application Process: |
Once a completed application is submitted, LCP staff evaluates it and approaches the impacting taxing jurisdictions to secure the support for the application. |
| Application: |
Click here to download Property Tax Abatement Application. |
Note: This program overview is intended as a reference only. Some details may have changed since publication and/or not be reflected in the description. For specific application of this program, please contact Lake County Partners at (847) 247-0137.
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