The Cook County Board of Commissioners recently issued an amendment to the Cook County Property Tax Ordinance that modified the requirements for incentives (including Class 6b, 7A, 7B, 7C, 8 and 9). Taxpayers, both those interested in applying for a new incentive and those who already have received an incentive, … Continued The post Amended Cook County Property Tax Incentives Ordinance appeared first on Liston Tsantilis Law.
The Cook County Board of Commissioners recently issued an amendment to the Cook County Property Tax Ordinance that modified the requirements for incentives (including Class 6b, 7A, 7B, 7C, 8 and 9). Taxpayers, both those interested in applying for a new incentive and those who already have received an incentive, must now file annual affidavits with the County. Beyond the traditional industrial use affidavit where taxpayers would confirm that the site’s use remains in compliance with the law (i.e., industrial use and over 50% occupied), Cook County now requires additional affidavits attesting to compliance with the Cook County Living Wage Ordinance, the Cook County Minimum Wage Ordinance and compliance with applicable federal and state labor laws. The Cook County Board of Commissioners recently issued an amendment to the Cook County Property Tax Ordinance that modified the requirements for incentives (including Class 6b, 7A, 7B, 7C, 8 and 9). Taxpayers, both those interested in applying for a new incentive and those who already have received an incentive, must now file annual affidavits with the County. Beyond the traditional industrial use affidavit where taxpayers would confirm that the site’s use remains in compliance with the law (i.e., industrial use and over 50% occupied), Cook County now requires additional affidavits attesting to compliance with the Cook County Living Wage Ordinance, the Cook County Minimum Wage Ordinance and compliance with applicable federal and state labor laws.
For new incentive applications (filed or requesting activation this year), OR if you have recently purchased a property with an incentive in place, you must file:
Owners of existing incentive properties must file:
Tenants leasing a space in a building with an incentive in place must file:
Living Wage Ordinance Modifications and New Requirements for Tenants and Leases as of July 1, 2020
Keeping the above requirements in mind, we strongly recommend any leases relating to Incentive properties contain language requiring tenants to comply with current and future incentive requirements and to cooperate with Landlords in providing information and documentation to the County, and otherwise comply with incentive requirements, to ensure the incentive is implemented and/or continues in place.
Both myself and my partner, Peter Tsantilis, have been in constant communication with the Assessor’s Office across the street from our office regarding these changes since the day the County first recommended these incentive changes. As a member of the County’s policy advisory board on incentives, I argued strongly against this additional paperwork because of its duplicative nature, since the necessity of the incentive and parameters have already been analyzed and determined by the local municipal trustees. While this additional paperwork may be a minor inconvenience, we stand ready to work with you and assist you in obtaining and/or maintaining a property tax incentive in Cook County. Please do not hesitate to call either myself or Peter to discuss your next project.
Very Truly Yours,
Brian
Liston and Tsantilis Law
33 N LaSalle St, 28th Floor
Chicago, IL 60602
Phone: 312-580-1594
Email: BListon@LTLawChicago.com
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