2020 Cook County Ordinance SO2020-3395 Revocation of Tax Incentives
Type
Ordinance
Year
2020
Level
County
State(s)
Illinois
Policy Areas
Economic Justice, Environment & Natural Resources, Finance & Procurement
The Cook County tax Incentive Ordinance establishes real estate tax incentives to property owners who build or occupy property that is located within Cook County and is used for industrial or commercial purposes. However, these tax incentives may be suspended in several circumstances. This ordinance establishes requirements for revocation of certain Cook County tax incentive classifications, including failure to comply with environmental regulations, failure to meet redevelopment objectives, failure to submit reports, and more.