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Preferential Assessments
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Certificate of Rehabilitation
Rehabilitating your older home is rewarding in many ways, and with the Property Tax Assessment Freeze homeowners may be eligible for a financial incentive that can make the work even more attractive. The program freezes the assessed value of historic owner-occupied, principal residences for 8 years, followed by a four-year period during which the property’s assessed value steps up until the 12th year, when it will be at its then-current level. This program is administered free of charge to Illinois homeowners who sensitively rehabilitate their historic homes.
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Conservation Stewardship Program
Landowners who wish to receive the special valuation for unimproved land provided by this law are required to prepare a Conservation Management Plan according to rules developed by the Department of Natural Resources (DNR).
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Developer's Land
Section 10-30 of the Illinois Property Tax Code gives a preferential property assessment for acreage that is in transition from vacant land to a residential, commercial, or industrial use
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Farm
Cropland, permanent pasture, other farmland and wasteland are the four types of farmland as identified by the Property Tax Code. Find out how this land is assessed and defined.
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Forestry Management
Forest lands provide a variety of resources that make a significant environmental, economic and outdoor recreation contribution. The Illinois Forestry Development Act offers tax relief to forest landowners who make a long-term investment in their forestland through forest management.
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Model Home Program
This assessment allows a dwelling, condominium, or town home not occupied as a dwelling but used instead as a display or demonstration model for prospective buyers to be assessed at its value prior to construction or zoning classification change.
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Open Space Valuation
Land that is more than 10 acres in area and is used for open space purposes, may qualify for open space valuation.