Oct
09
2008
Tax savings for your rental property 19%
Posted by
Christian Chase under
Landlord
The Illinois General Assembly and Governor Rod Blagojcvich signed into law a property tax adjustment program for landlords who make rental units available to low-income families who receive Section 8 Housing Choice Voucher Program assistance. This program was created to provide landlords with a financial incentive to assist low-income families. Through the property tax adjustment program, a landlord may be eligible to receive a 19% annual property tax savings. Form must be completed by October 24th, 2008. For additional details contact me a 630-527-0095 Christian Chase
Great information – good contact is Mary Ann Sprights at Joliet Housing Authority.
The Housing Authority of Joliet’s deadline for next year’s tax credit is October 24th! They have to receive it by this date, NOT postmarked.
The Housing Authority of Elgin is due November 30th and you have to request it from them. They will not send it to you automatically like HAJ. I got burned one year!!
Good call Erik! Hopefully DuPage and Aurora will add these programs. I have been saving thousands on my homes each year using this tax program. If your tax bill is $3,500 per year you get a $665.00 credit. That is $55.42 per month additioanl cash flow.
So if I have a property in DuPage County (Bloomingdale) and Aurora, they don’t qualify for the credit?
need to check property PIN number…not all of Joliet properties fall within the tax credit program
DuPage and Aurora do not have the tax credit program.
Properties that qualify must be located in certain zip codes.
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