Cook County Class 6b

The Class 6b classification is designed to encourage industrial development throughout Cook County by offering a real estate incentive for the development of new industrial facilities, the rehabilitation of existing industrial structures, and the industrial reutilization of abandoned buildings. 

Goal

 
The goal of Class 6b is to attract new industry, stimulate expansion and retention of existing industry and increase employment opportunities.

How It Works

 

• Under the incentive provided by Class 6b, qualifying industrial real estate would be eligible for a reduced assessment from the date that new construction or substantial rehabilitation is completed and initially assessed or, in the case of abandoned property from the date of substantial re-occupancy.
• Properties receiving Class 6b will be assessed at 10% of market value for the first 10 years, 15% in the 11th year and 20% in the 12th year. This constitutes a substantial reduction in the level of assessment and results in significant tax savings. In the absence of this incentive, industrial real estate would normally be assessed at 25% of its market value.

Eligible Properties

 
Industrial use, such as manufacturing, warehousing or distribution
New construction, substantial rehabilitation or reutilization of abandoned buildings
Location anywhere in Cook County

Benefits

 
Assessment levels reduced from the industrial rate of 25% for 12 years:

• 10% for 10 years
• 15% in Year 11
• 20% in Year 12
• Return to 25% in Year 13

Requirements

 

• Application to the Assessor and municipal resolution must be filed before construction of new buildings, or the substantial rehabilitation or reoccupancy of existing buildings begins.
• Municipal resolution in support of application is required.

More Information

 

• Download the Class 6b Procedures and Application (PDF) for the Village of Niles Consideration of Cook County Real Estate Classification 6b.
• Download a presentation on the Cook County Class 6b, 7a, 7b, and 7c programs. Presentation - Class 6b, 7a, 7b, and 7c (PDF)
• Questions regarding Class 6b may be directed to the Development Incentives Department of the Office of the Cook County Assessor by calling 312-443-7550.
• Download the Class 6b Renewal Procedures and Application (PDF) for the Village of Niles
• For questions regarding the Village of Niles's Class 6b application process, please email the Department of Economic Development or call 847-588-8074.