US Legal Forms
Illinois Triennial affidavit for Incentive Properties

Illinois Triennial affidavit for Incentive Properties

Name: Illinois Triennial affidavit for Incentive Properties
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.55 (387 reviews)

Category:

Illinois Local County - Cook - Assessors Office

State:

Illinois

Control #:

IL-SKU-2002

Format:

Instant download

This website is not affiliated with any governmental entity

Public form

Description

Triennial affidavit for Incentive Properties The Illinois Triennial Affidavit for Incentive Properties is a document used to verify that a property is eligible for certain incentive programs available through the state of Illinois. These incentives may include tax exemptions, abatement, credits, and other forms of financial assistance. The affidavit must be filed every three years and is used to demonstrate that the property meets all necessary requirements for the incentive program. There are three types of Illinois Triennial Affidavit for Incentive Properties: Residential, Commercial, and Industrial. The Residential Affidavit is used to verify that a residential property is eligible for a certain incentive program. The Commercial Affidavit is used to demonstrate that a commercial property is eligible for an incentive program. Finally, the Industrial Affidavit is used to verify eligibility for an incentive program for an industrial property.

The Illinois Triennial Affidavit for Incentive Properties is a document used to verify that a property is eligible for certain incentive programs available through the state of Illinois. These incentives may include tax exemptions, abatement, credits, and other forms of financial assistance. The affidavit must be filed every three years and is used to demonstrate that the property meets all necessary requirements for the incentive program. There are three types of Illinois Triennial Affidavit for Incentive Properties: Residential, Commercial, and Industrial. The Residential Affidavit is used to verify that a residential property is eligible for a certain incentive program. The Commercial Affidavit is used to demonstrate that a commercial property is eligible for an incentive program. Finally, the Industrial Affidavit is used to verify eligibility for an incentive program for an industrial property.

View Divorce Decree With Children

View this form

View Income and Expense Statement

View this form

View Matrimonial Action Information

View this form

View Order Regarding Supervised Visitation

View this form

View Motion For Service By Mail and Declaration - Order For Service By Mail

View this form

How to fill out Illinois Triennial Affidavit For Incentive Properties?

Coping with legal documentation requires attention, precision, and using well-drafted blanks. US Legal Forms has been helping people nationwide do just that for 25 years, so when you pick your Illinois Triennial affidavit for Incentive Properties template from our library, you can be sure it complies with federal and state regulations.

Dealing with our service is easy and fast. To obtain the required document, all you’ll need is an account with a valid subscription. Here’s a quick guide for you to find your Illinois Triennial affidavit for Incentive Properties within minutes:

Make sure to attentively look through the form content and its correspondence with general and law requirements by previewing it or reading its description.
Search for another official blank if the previously opened one doesn’t suit your situation or state regulations (the tab for that is on the top page corner).
Log in to your account and save the Illinois Triennial affidavit for Incentive Properties in the format you prefer. If it’s your first experience with our website, click Buy now to proceed.
Register for an account, select your subscription plan, and pay with your credit card or PayPal account.
Choose in what format you want to obtain your form and click Download. Print the blank or upload it to a professional PDF editor to submit it paper-free.

All documents are created for multi-usage, like the Illinois Triennial affidavit for Incentive Properties you see on this page. If you need them one more time, you can fill them out without re-payment - just open the My Forms tab in your profile and complete your document any time you need it. Try US Legal Forms and prepare your business and personal paperwork quickly and in total legal compliance!

Form Rating

4.55

Satisfied(387)

Form popularity

FAQ

Class 6b. Designed to encourage industrial development throughout Cook County by offering a real estate tax incentive for the development of new industrial facilities, the rehabilitation of existing industrial structures, and the industrial reutilization of abandoned buildings.

Cook County Class 9 Program offers a 50% reduction in assessments and taxes to developers who complete major rehab on multifamily buildings and keep rent below certain levels.

This credit is generally 5% of the property tax you paid during the tax year for real estate that included your principal residence. For more information about the property tax credit, please refer to Publication 108, Illinois Property Tax Credit.

This annual exemption is available for property that is occupied as a residence by a person 65 years of age or older who is liable for paying real estate taxes on the property and is an owner of record of the property or has a legal or equitable interest therein as evidenced by a written instrument, except for a

You will qualify for the property tax credit if: your principal residence during the year preceding the tax year at issue was in Illinois, and. you owned the residence, and. you paid property tax on your principal residence (excluding any applicable exemptions, late fees, and other charges).

The Class 7c classification is designed to encourage commercial development throughout Cook County by offering a real estate incentive for the development of new commercial facilities, the rehabilitation of existing commercial structures, and the commercial reutilization of abandoned buildings.

About the Class 8 Tax Incentive Qualifying buildings will be assessed at 10% of market value for 10 years, 15% in the 11th year and 20% in the 12th year. This is a significant reduction from the standard assessment level of 25% for industrial and commercial properties.

Class 7b. Intended to encourage commercial projects in areas determined to be "in need of commercial development. These projects have total development costs, exclusive of land, that EXCEED two million and would not be economically feasible without the incentive.

More info

_ Cook County Minimum Wage Affidavit. Every property in Cook County must be reassessed every three years.In order to submit your completed form, you must print it, fill it out and mail it to the address: Lake County Auditor ,105 Main St ,P. DTE 100 EX requires an affidavit when lines B, D, G, l or M are checked. Personal property tax rates are the same as for real property.

Illinois Triennial affidavit for Incentive Properties

Description

Related forms

How to fill out Illinois Triennial Affidavit For Incentive Properties?

Show more info

Form Rating

Form popularity

FAQ

What is the Class 6 incentive in Cook County?

What is the Cook County Class 9 program?

How much is the Illinois property tax credit?

What age do you stop paying property taxes in Illinois?

Who is eligible for the property tax credit in Illinois?

What is class 7c?

What is the Class 8 tax incentive in Illinois?

What is a Class 7b incentive in Cook County?

More info

Trusted and secure by over 3 million people of the world’s leading companies