Property Tax Incentive Workshop Held for South Suburban Mayors and Managers

Lee Edwards | As of Wednesday, April 2, 2014

The Chicago Southland Economic Development Corporation (CSEDC) conducted a workshop on how to successfully apply for property tax incentives last week, to the South Suburban Mayors and Managers Association. Panelists included (L-R) Ivan Baker, Director of Economic Development, Village of Tinley Park; John Watson, Director of Economic Development, Village of South Holland; Adam Dotson, Community Development Director, Village of Oak Forest; and Bill Sandrick of Sandrick Law Firm who served as moderator.
The Chicago Southland Economic Development Corporation (CSEDC) conducted a workshop on how to successfully apply for property tax incentives last week, to the South Suburban Mayors and Managers Association. Panelists included (L-R) Ivan Baker, Director of Economic Development, Village of Tinley Park; John Watson, Director of Economic Development, Village of South Holland; Adam Dotson, Community Development Director, Village of Oak Forest; and Bill Sandrick of Sandrick Law Firm who served as moderator.

The Chicago Southland Economic Development Corporation (CSEDC) conducted a workshop on how to successfully apply for property tax incentives last week, to the South Suburban Mayors and Managers Association (SSMMA), 1904 W. 174th St., East Hazel Crest, IL.

“Our goal is just to increase knowledge about how to best apply this, how best to work with Cook county in order to do these incentives,” said Reggie Greenwood, Director of Economic Development, Chicago Southland Economic Development Corporation (CSEDC). “It is really critical in order to have a real estate development project go through.”

Bill Sandrick of Sandrick Law Firm moderated a panel of expert speakers on the subject including John Watson, Director of Economic Development, Village of South Holland; Ivan Baker, Director of Economic Development, Village of Tinley Park; and Adam Dotson, Community Development Director, Village of Oak Forest.

“The impact of these incentives means now investment comes into the community, jobs are created, and people see that this is a place where you can live, work, and shop,” said Watson when asked how property tax incentives impact the community.

“With respect to the south suburbs, the majority of this community is African American, so you’re talking about when you’re making an evaluation based on the amount of new employment that certainly positively impacts the community because those are the opportunity for new jobs or in some cases they’re the opportunity to retain jobs so maybe, for example, those jobs were leaving the community, ” Watson continued.

Property tax rates often differ from municipality to municipality and from county to county within the state of Illinois.



Cook County assesses all commercial and industrial property level of assessment (LOA) at 25%. By receiving property tax incentives, the standard 25% LOA can be reduced to 10%.

There are four property tax incentive categories:

· New construction

· Substantial rehabilitation of an existing property – only applies to the additional value as result of a rehabilitation

· Purchase of a building that is vacant or “abandoned” at the time of closing

· Re-occupancy without change of ownership

For more information about property tax incentives in the south suburbs visit http://csedc.info/.

CSEDC is a not-for-profit 501(c)3 organization, funded by member dues, contracts and contributions. Investing in a membership at any of the various levels, provides for active participation and supports this public-private partnership. The mission of the CSEDC is to identify, organize and mobilize public and private resources that will result in the creation and expansion of businesses, thereby providing economic growth, sustainable jobs and development in the Southland.

SSMMA has been working to facilitate cooperative efforts in municipal management, planning, public safety and infrastructure, as well as economic development, community relations and fostering diversity though Fair Housing since before 1978. Today, the Association serves 43 municipalities in southern Cook and eastern Will County, representing a population of over 650,000. According to its website. The primary mission of the Association is to provide a means by which geographically related municipalities in the area south of Chicago could cooperate to explore and recommend solutions to common municipal problems.

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