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Tax Abatement

306.01

Tax Abatement

The economic health of the District is of significant importance to the College.  The Board of Trustees may consider toward tax abatements a proposed abatement demonstrates a net economic benefit to the District.  Such benefit may include, but is not limited to, increased equalized assessed valuation (EAV), job creation or retention, workforce development alignment, and long-term tax base growth.

The Board shall evaluate whether the long-term economic and community benefits outweigh any short-term reduction in tax revenue.

Tax abatement requests must be submitted in writing to the Board.  Approval of any tax abatement is at the sole discretion of the Board and shall not be construed as establishing any precedent or entitlement. Abatement shall not be granted for a period in excess of ten (10) years. All abatements shall comply with applicable provisions of the Illinois Property Tax Code and any applicable intergovernmental agreements. The College may corrdinate, as appropriate, with the relevant county, municipality, and/or redevelopment agency in evaluating requests.

Requests should include a projected fiscal impact analysis comparing the estimated abatement to anticipated long-term tax revenues and economic benefits to the District. The Board may consider performance-based provisions, including job creation or investment benchmarks, and may require reporting or other accountablitity measures as a condition of approval.

Applications for tax abatement shall include the following information:

  1. Name, address, and telephone number of the applicant;
  2. Name, title, address, and telephone number of the representative making application (if different from applicant);
  3. Name and address of owner of site (if different from applicant);
  4. Description of applicant's business generally and at the location where abatement is requested;
  5. Description (legal description and/or street address) of site;
  6. Real estate tax code(s) for site;
  7. Current equalized assessed valuation for site, and current taxes paid to the College;
  8. Description of current business operations conducted on site (if any), including number of employees working full-time and part-time;
  9. Description of projected future business operations to be conducted on site as a result of the project, including number of employees working full-time and part- time and total estimated change in payroll from current operations;
  10. Detailed description of any business operations in the District operated by or reasonably related to the petitioner that will be eliminated or reduced as a result of the proposed improvement;
  11. Total estimated cost of the project;
  12. Terms of abatement requested;
  13. Estimated dollar amount of abatement being requested from the College;
  14. Statement of why abatement is being requested;
  15. At the College's discretion, any additional information required by or provided to the county, municipality, and/or redevelopment agency where the property proposed for abatement is located; 
  16. Appropriate substantiation that the relevant requirements of the county, municipality and/or redevelopment agency where the property proposed for abatement is located have been or are being met; and
  17. Other information as may be requested by the College.

Revised: 08-27-1984, 03-23-1987, 03-24-2003, 06-27-2005, 06-15-2026
Cabinet Reviewed: 01-07-2025, 04-21-2026