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The Illinois Property Tax Credit is a credit on your individual income tax return (Form IL-1040) equal to 5 percent of Illinois Property Tax (real estate tax) you paid on your principal residence. You must own your residence in order to take this credit.
- Incentives and Tax Credits
Illinois offers tax-based incentives to help your business...
- Incentives and Tax Credits
5 kwi 2023 · Advocates propose Build Illinois tax credit to incentivize affordable apartment construction, generating 3,500 homes/year. $35M/yr program aims to tackle homelessness crisis and rising construction costs.
19 gru 2023 · As part of the omnibus legislation to create and preserve affordable rental homes across Illinois that was signed into law on July 29, 2021, HB 2621, there are provisions establishing new property tax incentives for owners of properties with 7 or more units to invest in their properties while keeping rents affordable. (Note that some of the ...
9 mar 2022 · There are two incentive programs. The first program is for taxpayers who qualify for Low-Income Housing Tax Credits (LIHTC) under Section 42 of the Internal Revenue Code. Owners with qualifying properties must apply online via the CCAO website to participate in the program.
18 lut 2022 · The Illinois property tax relief program provides a reduced assessed value for at least 10 years (renewable for up to 30 years) for rental buildings with seven or more units that are undergoing a qualifying rehab or are new construction.
Illinois offers tax-based incentives to help your business create jobs and invest in Illinois. For an overview of our programs and to discuss your options, contact us at https://dceo.illinois.gov/dceo-program-inquiry.html.
Illinois offers a competitive range of incentives for locating and expanding your business, including tax credits and exemptions that encourage business growth and job creation.
