CHICAGO HEIGHTS, Ill. – A new law spearheaded by state Rep. Anthony DeLuca, D-Chicago Heights, will create the Southland Reactivation Act – a measure aimed at creating jobs, lowering property taxes and incentivizing commercial and industrial redevelopment in the south suburbs.
“By creating the Southland Reactivation Act, we’re going to generate increased investment for our area,” DeLuca said. “When this investment breathes new life in underutilized properties, the result is an expanded local tax base that will help drive down property tax costs on homeowners.”
The DeLuca-led Senate Bill 3189 creates the Southland Reactivation Act, which will institute a special designation for underutilized property in the south suburban communities located in Bloom, Bremen, Calumet, Rich, Thornton and Worth Townships. Identified commercial and industrial properties that meet qualifying criteria would be assessed at 50% of the last known equalized assessed value. For the first year a property is certified as a southland reactivation property, the aggregate tax bill liability for the property cannot exceed $100,000. Discounts on the liability would decrease gradually, but continue for a total of 12 years.
Senate Bill 3189 was signed by the governor on Friday.
“This measure is the result of years of work from local leaders and advocates who recognized this as a great opportunity to grow and develop our community,” DeLuca said. “I appreciate that the governor signed this quickly, and look forward to seeing the positive impact this will have on our area.”
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