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25-4431
| 1 | | | Committee Minutes | COMMITTEE MINUTES
Approval of the minutes from the meeting of 10/22/2025 | | |
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25-4178
| 1 | | EXTENSION OF CLASSIFICATION INCENTIVES | Ordinance Amendment | PROPOSED ORDINANCE AMENDMENT
EXTENSION OF CLASSIFICATION INCENTIVES
BE IT ORDAINED, by the Cook County Board of Commissioners, that Chapter 74 Taxation, Article II Real Property Taxation, Section 74-68 of the Cook County Code is hereby amended as Follows:
Sec. 74-68. Classification system to apply with tax assessment year.
(a) The incentive provisions of this Division provided to qualifying parcels of real estate for Class 6b, Class C, Class 7a, Class 7b and Class 8 shall expire on December 31, 2027, unless otherwise reviewed by action of the County. Real estate granted a Class 6, Class 6a, Class 6b, Class 7 or Class 8 classification on or before December 31, 2025, shall retain such classification under the terms and conditions of this Division prior to January 1, 2026. Real estate for which an application for Class 6a, Class 6b, Class 7 or Class 8 classification is filed with the Assessor on or before December 31, 2025, and which thereafter is determined by the Assessor to be eligible for the classification under the terms and conditions of this Division after December | | |
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25-4220
| 1 | | CLASS L INCENTIVE RENEWAL | Ordinance Amendment | PROPOSED ORDINANCE AMENDMENT
CLASS L INCENTIVE RENEWAL
BE IT ORDAINED, by the Cook County Board of Commissioners, that Chapter 74 Taxation, Article II Real Property Taxation, Section 74-63 (17) of the Cook County Code is hereby amended as Follows:
Sec. 74-63. Assessment classes.
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(17) Class L. Real estate which is to be used for commercial or industrial purposes and which is designated as Class 3, Class 4, Class 5a or Class 5b pursuant to this Division; is a landmark or contributing building; and has undergone substantial rehabilitation. The substantial rehabilitation must constitute an investment by the owner of at least 50 percent of the building's full market value as determined by the Assessor in the assessment year prior to the commencement of the substantial rehabilitation.
a. Generally, the incentive shall apply only to the building and will not apply to the land underneath the building. However, if the entire building has been vacant and unused for at least 24 continuous months prior to the filing of the eligibility application with the Assessor, the | | |
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