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Cook County committee approves amendment to real estate assessment classification ordinance to extend incentives and tighten oversight
Summary
The committee approved a proposed amendment to the Cook County Real Estate Assessment Classification Ordinance to extend the life of certain incentive classifications, require attestation to prevailing wage compliance, disclose redevelopment agreements, sunset Class 7a, and align Class 8 micro eligibility with the IL EDGE tax credit; the amendment takes effect 06/01/2026 and was approved by voice vote.
The Business and Economic Development Committee approved a proposed amendment to the Cook County Real Estate Assessment Classification Ordinance (chapter 74, Article 2, Division 2) aimed at extending and modernizing incentive classifications and strengthening oversight.
The chair summarized the changes in item 26.0936: the amendment would extend incentive classifications currently set to…
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