Share to Facebook Share to Twitter Bookmark and Share
File #: 16-2598    Version: 1 Name: AN AMENDMENT TO THE PROPERTY TAX CLASSIFICATION SYSTEM FOR ASSESSMENT Class C Amendment
Type: Ordinance Amendment Status: Approved
File created: 4/6/2016 In control: Board of Commissioners
On agenda: 4/13/2016 Final action: 4/13/2016
Title: PROPOSED ORDINANCE AMENDMENT AN AMENDMENT TO THE PROPERTY TAX CLASSIFICATION SYSTEM FOR ASSESSMENT BE IT ORDAINED, by the Cook County Board of Commissioners, that Chapter 74 Taxation, Article II - Real Property Taxation, Division 2 - Classification System for Assessment, Section 74-63 (8)(b) of the Cook County Code is hereby amended as Follows: Sec. 74-63. - Assessment classes. Real estate is divided into the following assessment classes: *** (8) Class C. Real estate which is to be used for industrial or commercial purposes, including abandoned property, as defined in Section 74-62, including the land upon which such property is situated; or vacant land; where such real estate because of contamination has undergone environmental testing and remediation and has received a "No Further Remediation Letter" from the site remediation program. a. To be eligible for a Class C classification an applicant must have received a "No Further Remediation Letter" confirming...
Sponsors: LARRY SUFFREDIN

title

PROPOSED ORDINANCE AMENDMENT

 

AN AMENDMENT TO THE PROPERTY TAX CLASSIFICATION SYSTEM FOR ASSESSMENT

 

BE IT ORDAINED, by the Cook County Board of Commissioners, that Chapter 74 Taxation, Article II - Real Property Taxation, Division 2 - Classification System for Assessment, Section 74-63 (8)(b) of the Cook County Code is hereby amended as Follows: 

Sec. 74-63. - Assessment classes.

Real estate is divided into the following assessment classes:

 

***

 

(8)                     Class C. Real estate which is to be used for industrial or commercial purposes, including abandoned property, as defined in Section 74-62, including the land upon which such property is situated; or vacant land; where such real estate because of contamination has undergone environmental testing and remediation and has received a "No Further Remediation Letter" from the site remediation program.

a.                     To be eligible for a Class C classification an applicant must have received a "No Further Remediation Letter" confirming achievement of the remediation objectives based on the industrial or commercial use.

b.                     The owner of the property is rendered ineligible for the Class C classification by having previously owned or operated the site, directly or indirectly, or having been a partner or being associated through a family or business relationship with anyone who has owned or operated the site, which ownership or operation caused the contamination which was remediated pursuant to a site remediation, except for an employee who worked for an owner, as defined herein, that operated the site. A present owner or employer who can successfully demonstrate that the owner or employer was not responsible for the contamination may be eligible for Class C classification. 

 

Effective date:  This ordinance shall be in effect immediately upon adoption.

end