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Amendment to the Real Property Assessment Classification Ordinance

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Date Introduced: 9/7/2006
Date Passed:

Sponsors:
Goslin, Suffredin
Co-Sponsors:
Murphy

Summary:

Ordinance to amend the Real Property Assessment Classification Ordinance definition of Class 6b.


Activity Log:

9/7/2006
Referred to Finance Committee

Full Text of Legislation:

Submitting a Proposed Ordinance Amendment sponsored by

GREGG GOSLIN and LARRY SUFFREDIN, County Commissioners

Co-Sponsored by

JOAN PATRICIA MURPHY, County Commissioner

PROPOSED ORDINANCE AMENDMENT

AMENDMENT TO THE

REAL PROPERTY ASSESSMENT CLASSIFICATION ORDINANCE

BE IT ORDAINED by the Cook County Board of Commissioners that the Real Property Assessment Classification Ordinance 06-O-09 (previously approved and adopted February 15, 2006), Section 2 is hereby amended to read as follows:


Section 2.

Real estate is divided into the following assessment classes:

Class 6b: Real estate used primarily for industrial purposes, as defined herein, consisting of all newly constructed buildings or other structures, including the land upon which they are situated; or abandoned property, as defined herein, including the land upon which such property is situated; or all buildings and other structures which are substantially rehabilitated to the extent such rehabilitation has added to their value, including qualified land related to the rehabilitation. Land qualifies when the rehabilitation adds vertical or horizontal square footage to the improvements. The amount of land eligible for the incentive shall be in such proportion as the square footage added by the rehabilitation bears to the total square footage of the improvements on the parcel.

An applicant must obtain from the municipality in which the real estate is located or the Board of Commissioners of Cook County if the real estate is located in an unincorporated area, an ordinance or resolution expressly stating that the municipality or County Board, as the case may be, has determined that the incentive provided by Class 6b is necessary for development to occur on that specific real estate and that the municipality or County Board, as the case may be, supports and consents to the Class 6b application to the Assessor. A certified copy of the ordinance or resolution need not be filed at the time of filing the Class 6b eligibility application with the Assessor, but must be filed with the Assessor no later than the date an assessment appeal is filed to request the class change to Class 6b. If the resolution is not filed at the time of the eligibility application, the applicant shall instead file, at that time, a letter from the municipality or the County, as the case may be, confirming that a resolution or ordinance supporting the incentive has been requested.

A copy of the resolution or letter confirming that a resolution has been requested, whichever is filed with the application, will be forwarded by the Assessorís Office to the Secretary of the Cook County Board for distribution to the Commissioners from the affected districts.

In the case of abandoned property, if the municipality or the Board of Commissioners, as the case may be, finds that special circumstances justify finding that the property is ďabandonedĒ for purpose of Class 6b, even though it has been vacant and unused for less than 24 months, that finding, along with the specification of the circumstances, shall be included in the resolution or ordinance supporting and consenting to the Class 6b application. Such resolution or ordinance shall be included with the eligibility application. If the ordinance or resolution is that of a municipality, the approval of the Board of Commissioners of Cook County is required to validate such shortened period of qualifying abandonment, and a resolution to that effect shall be included with the Class 6b eligibility application. The applicant must obtain the municipal enabling ordinance with the required finding of special circumstances and present such municipal ordinance to the Board of Commissioners of Cook County prior to its determination as to whether it will validate such a shortened period of qualifying abandonment and provide a County resolution to that effect. A certified copy of an ordinance or resolution finding that special circumstances exist, as well as a certified copy of a County ordinance or resolution validating the shortened period of qualifying abandonment need not be filed at the time of filing the Class 6b eligibility application with the Assessor, but must be filed with the Assessor no later than the date an assessment appeal is filed to request the class change to Class 6b. If the resolution is not filed at the time of the eligibility application, the applicant shall instead file, at that time, a letter from the municipality or the County as the case may be, confirming that a resolution or ordinance regarding special circumstances has been requested.

This classification shall continue for a period of twelve years from the date such new construction (excluding demolition, if any) or such substantial rehabilitation was completed and initially assessed, or in the case of abandoned property, from the date of substantial reoccupancy. This incentive may be renewed during the last year a property is entitled to a 16% assessment level, if the following requirements are met:


1. the taxpayer notifies the Assessorís Office of his intent to request renewal of the incentive from the municipality, or the Board of Commissioners of Cook County if the real estate is located in an unincorporated area, and;

2. the municipality in which the real estate is located or the Board of Commissioners of Cook County, if the real estate is located in an unincorporated area, adopts a resolution expressly stating that the municipality or County Board, as the case may be, has determined that the industrial use of the property is necessary and beneficial to the local economy, and supports and consents to renewal of the Class 6b and;

3. a copy of that resolution and a completed renewal application are filed with the Office of the Assessor before the expiration of the 16% assessment level period.

The number of renewal periods is not limited as long as the property continues to apply and qualify for Class 6b. Any property which applies for Class 6b treatment on or before the adoption date of this ordinance change will be eligible for this renewal term at the end of their original incentive period subject to the above requirements.

If, on the effective date of this Ordinance, a property is receiving Class 6b treatment, but the assessment level is higher than 16%, that taxpayer may apply for renewal as outlined above and receive a 16% assessment level for the prescribed period beginning after the filing and approval of the resolution and renewal application. However, if, as of that effective date, the tax payerís assessment is higher than 16% and the taxpayer is granted a renewal of the incentive for subsequent years, no reduction of the current assessment level based on renewal of the incentive will be granted.

The notice of intent to request renewal which is filed with the Assessorís Office will be forwarded by the Assessorís Office to the secretary of the Cook County Board for distribution to Commissioners from the effected districts.

If no renewal is obtained, the incentive shall be phased out over the next two years, pursuant to Section 3 below. After expiration of the last incentive period, the real estate shall revert to the applicable classification under this Ordinance.

Additionally, for newly constructed or substantially rehabilitated buildings and other structures to qualify for Class 6b classification, an eligibility application must be made to the Assessor within one year prior to the commencement of such new construction or substantial rehabilitation. With respect to abandoned property, the eligibility application must be made to the Assessor no later than ninety days after purchase for value if such property is encompassed within the definition herein of abandoned property by reason of purchase for value; or within one year prior to the commencement of substantial rehabilitation if such property is encompassed within that definition by reason of substantial rehabilitation.

The Assessor may adopt rules consistent with the foregoing necessary to ensure proper review of all factors relevant to determine eligibility for the benefits provided under Class 6b.

The Assessor shall provide by rule for the filing of triennial reassessment reports by all Class 6b recipients as to the use of the property and the number of persons employed at the Class 6b site. Such reports shall be verified. Failure to file such reports within the time established by the Assessor's rules shall result in loss of the incentive for the period relating to the non-filing.

A Class 6b eligibility application for the occupation of abandoned property without proof of purchase is allowed if the following conditions are met:


1. The subject property must have been in the same ownership for more than twenty-five (25) years; and

2. More than 50 new jobs must be created and employed within five (5) years of occupancy; and

3. The applicant must have written proof of an acceptable location outside of Cook County having available incentives from a municipality, county or state; and

4. The application has been reviewed and approval recommended by the County of Cookís Economic Development Advisory Committee (EDAC).


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