Businesses within the village that wish to get a property tax break from Cook County government will now have to pay municipal government a fee to cover the costs of processing the request.
The Village Board on Tuesday gave its approval to fees of $1,000 for businesses applying for a Class 6b or Class 8 property tax break, which the county issues to businesses that want to use otherwise vacant property to establish themselves.
Such tax breaks can reduce the amount of property taxes the businesses must pay by about half. The breaks are for limited time periods, but can be renewed with government approval.
Any business seeking to have its county tax break renewed will have to pay a $750 fee…Please click here to read Gregory Tejeda’s story in the Times.