Illinois has no statute equivalent to the California Mills Act. Instead, Illinois Property Tax Code 35 ILCS 200/15-40 and Cook County Class L assessment incentive provide property tax reductions for landmarked rehabilitation projects, freezing valuations rather than reducing rates.
California Mills Act contracts cap property taxes by formula for 10-year renewable terms. Illinois uses two parallel mechanisms. Statewide, 35 ILCS 200/15-40 Property Tax Assessment Freeze applies to owner-occupied historic residences listed on National Register or in certified districts, freezing assessed value for eight years then phasing back over four years. Cook County Class L extends a similar 12-year freeze on commercial or income-producing landmarks where rehab exceeds 50 percent of base value. Both require Illinois Historic Preservation Division certification of work meeting Secretary of Interior Standards. No formula-based ongoing valuation cap exists.
Falsifying rehab cost reports or failing to maintain qualifying status triggers retroactive recapture of the tax benefit. Owners owe back taxes plus interest. Class L recipients must complete approved scope before benefit activates.
Other ordinances people look up for this city. Green dot = verified primary-source excerpt.
Schaumburg, IL
Schaumburg Village Code Chapter 90 (Animals) prohibits dogs from barking, howling, or making noise that unreasonably disturbs neighbors. Continuous barking f...
Schaumburg, IL
Schaumburg regulates noise from industrial and commercial operations through its noise ordinance and zoning buffer requirements. Operations near residential ...
Schaumburg, IL
Schaumburg restricts parking of commercial vehicles in residential areas. Vehicles over one ton rated capacity, semi-trucks, trailers, and heavy equipment ma...
Schaumburg, IL
Schaumburg requires a fence permit for all new fence installations and replacements in residential areas. Permit applications must include a site plan showin...
Schaumburg, IL
Schaumburg prohibits keeping dangerous wild animals as pets in residential areas. The village code restricts ownership of venomous snakes, large predatory ca...
Schaumburg, IL
Schaumburg prohibits keeping chickens, roosters, and livestock (goats, sheep, pigs, horses) on residential property. The Village Code classifies these as far...
Side-by-side rule comparisons with other cities in Cook County.
See how Schaumburg's mills act contracts rules stack up against other locations.
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