Property Tax Abatement

Overview

A Property Tax Abatement is a way to support and promote the expansion of existing businesses and the attraction of new businesses to Livingston County.  A business that receives approval from a taxing body for an abatement will receive an abatement on only the resulting property tax attributed to the new tax resulting from a qualified improvement. Additionally, the improvement must meet the permitting requirements of all applicable jurisdictions.

Goals and Objectives

The aim of the property tax abatement incentive for the expansion of an existing facility or the construction of new facility are the following:

  • Economic Impact
    • Job retention, creation, and capital investment in land, buildings, and equipment.
  • Fiscal Impact
    • Total amount of new estimated property tax generated by the business expansion.
  • Strategic Impact
    • Factors such as the median salary of employees, total payroll, and the quality of benefits available to the employees.
  • Other Impacts
    • Improvements to existing public infrastructure and/or construction of new public infrastructure.

 

Property Tax Abatement Documents


Tax Abatement Application (PDF)
Tax Abatement Plan (PDF)

 

Tax Abatement Signing (Video)


 

In the News: GLCEDC Property Tax Abatement


City of Fairbury Approves Property Tax Abatement for BMCH Properties
Pontiac Daily Leader
October 19, 2017

Money Still an Issue, but Not so Much of a Concern
Pontiac Daily Leader
July 21, 2017

County’s Unemployed Numbers Fall
September 6, 2016

Tax Abatement Plan Updated
July 28, 2015

Two Major Businesses Take Advantage of Tax Abatement
WJEZ
June 1, 2015

Livingston County Property Tax Abatement Plan Details
Document
April 23, 2015

Business Taking Advantage of Tax Abatement
Pontiac Daily Leader
July 16, 2015
[CLICK TO DOWNLOAD]

Taxing bodies formally agree to tax abatement program
Pontiac Daily Leader
January 22, 2015

Fairbury City Council
Fairbury Blade
January 7, 2015

Concerns of development raised
Pontiac Daily Leader
December 16, 2014

Board gives approval to abatement
Pontiac Daily Leader
December 12, 2014

PTHS Dist 90 approves 2% tax levy
Pontiac Daily Leader
December 10, 2014

City of Fairbury, Illinois approves tax abatement program
Fairbury Blade
December 3, 2014