About the Tax Savings Program

Under state law, Illinois Property Owners who rent to Participants in the Housing Choice Voucher (HCV) Program may receive property tax abatement (“tax savings”) in an amount up to 19% of a property’s Equalized Assessed Value (EAV). The actual amount will depend upon tax rates, the state equalizer, EAV and the number of qualified units rented to HCV Program Participants. In order to qualify for this tax savings program in Chicago, HCV program Property Owners must meet the following guidelines:

Eligibility

  1. The property must be located in a census tract with a poverty rate below 12 percent.
  2. At least one unit must be leased to a family participating in CHA’s HCV Program as of January 1st of the year for which the Property Owner is applying for the tax savings.
  3. The eligible unit(s) must be in compliance with Housing Quality Standards as of January 1st of the year for which the Property Owner is applying for the tax savings.
  4. The building must be in compliance with local building codes.

 

All Property Owner(s) must submit a separate application for each property on an annual basis. Each application should have a separate Property Index Number (PIN). No applications will be accepted after November 1, 2014 for the 2014 taxable year.

Instructions

  • Complete the attached application (print or type) and mail the original, notarized, copy to: CHA Housing Choice Voucher Program, 60 E. Van Buren Street, 11th Floor, Chicago, IL. 60605-1207 before November 1, 2014. Faxed copies will not be accepted. Keep a copy of this application for your records.

 

Instructions to determine if your property is located in an eligible census tract:

  1. Go to the web address http://www.ffiec.gov/geocode/default.aspx
  2. Select the most current calendar year
  3. Enter the property address
  4. Select “Search”
  5. Select “Get Census Demographics”
  6. Review the “% Below Poverty Level” (must be less than 12%)

 

Common reasons for application denial:

  1. The application was submitted after November 1st.
  2. The property isn’t located in the city of Chicago.
  3. The property isn’t located in a census tract with a poverty level below 12%.
  4. The applicant didn’t notarize the application.
  5. The applicant didn’t mail the original application.
  6. The application is incomplete.

 

 

Downloads:

Illinois Housing Authority Contact List 

Tax Savings Program Application