Cook County Industrial & Commercial Property Tax Incentives

Purpose of Property Tax Incentive Program:

Job Creation and Retention: Incentives encourage businesses to establish or expand operations in Cook County, creating jobs and supporting economic growth in local communities.

Blight Reduction and Property Revitalization: Certain areas in Cook County may have vacant or underutilized properties, often considered blighted. Property tax incentives make redevelopment more feasible for businesses by reducing the initial tax burden, which can make the cost of development more attractive.

Encouragement of Industrial, Commercial, and Affordable Housing Development: Specific incentives are available for industrial properties (such as the Class 6b program), commercial properties (Class 7a and 7b), and affordable housing projects (Class 9). These incentives help make investment in these areas more appealing, balancing tax revenues with the need for diverse property uses.

Competition with Neighboring Counties and States: To retain and attract businesses, Cook County needs to remain competitive with neighboring counties and states offering similar incentives. Tax incentives can tip the scales for businesses considering locations in the Midwest, keeping them within Cook County.

Overall, Cook County’s tax incentives are designed to increase the tax base over the long term, despite initial reductions, by promoting economic activity that ultimately generates higher property values and tax revenues.

Cook County Property Tax Incentive Classifications:

1. Class 6b: Targets industrial properties, such as manufacturing, warehouse, and distribution facilities. This incentive reduces the assessed property tax rate from the standard 25% to 10% for the first 10 years, then phases up to 15% in year 11 and 20% in year 12.

 2. Class 7a and 7b: Aimed at stimulating commercial redevelopment in underserved or blighted areas. They apply to smaller commercial developments (7a) and larger projects (7b) by lowering the assessment rate to 10% for the first 10 years, then phases up to 15% in year 11 and 20% in year 12.

 3. Class C: Supports the cleanup and redevelopment of contaminated properties, commonly known as brownfields. Eligible properties receive a reduced assessment rate to offset the costs of environmental remediation and site preparation.

 4. Class 8: Available for industrial or commercial properties in economically distressed areas or for affordable housing development. Properties are assessed at 10% for the first 10 years, with a gradual increase afterward. The goal of Class 6b is to attract new industry, stimulate expansion and retention of existing industry, and increase employment opportunities.

Eligible Properties

• Industrial use, such as manufacturing, warehousing, or distribution.

• New construction, substantial rehabilitation, or reutilization of abandoned buildings.

Location

Anywhere in Cook County Benefits

Assessment levels reduced from the industrial rate of 25% for 12 years:

• 10% for 10 years

• 15% in Year 11

• 20% in Year 12

• Return to 25% in Year 13

Requirements

Application to the Assessor and municipal resolution must be filed before construction of new buildings or the substantial rehabilitation or reoccupancy of existing buildings begins.

Municipal resolution in support of application is required. More information regarding these programs should be directed to the Development Incentives Department of the Office of the Cook County Assessor by calling 312-443-7550.

For questions regarding the Village of Wheeling's application process, please email the Department of Economic Development or call 847-459-2605 or email: lbecker@wheelingil.gov.