Historic Residence Property Tax Assessment Freeze
Historic Residence Property Tax Assessment Freeze
The State of Illinois provides a Property Tax Assessment Freeze Program which provides tax incentives to owner-occupants of certified historic residences who rehabilitate their homes. Through the Property Tax Assessment Freeze Program, the assessed valuation of the historic property is frozen for eight years at the level it was at the year rehabilitation began. The valuation is then brought back to market level over a period of four years.
To obtain additional information regarding the application procedure, please contact the Illinois Historic Preservation agency at http://www.illinois.gov/ihpa/Preserve/Pages/taxfreeze.aspx.