Tax freeze for historic buildings

By -
Significant remodeling work can earn a significant tax break in Ukrainian Village and East Village.

Many buildings in the two neighborhoods' landmark districts are eligible for 12 years of favorable tax assessments. Remodelers must spend at least 25% of the lowball figure the Cook County Assessor names as market value.

Ukrainian Village homeowner Dan Nehm told the East Village Association on April 6 how he got this tax break — which freezes assessments for eight of those years. As city assessments rise, taxes that get an assessment freeze edge lower.

Dan Nehm's handout outlines the process well. Nehm had more recommendations for future applicants:


  • Start early on one long piece of paperwork: It can take six months for the city to issue a waiver of building permit fees. Anyone in the landmark districts can get that break, and Nehm, a union carpenter, applies for the waiver every year just in case he works on his home. The permits prove the changes meet landmark-district requirements.

  • The major application, to approve the tax break, goes to the state. Take lots of before-and-after photos and organize your receipts. "You can't just send a shoebox full of records," Nehm said.

  • Plans must meet minimal energy efficiency requirements. Closed cell spray foam insulation is the most effective for old houses, in Nehm's opinion. It costs at least twice as much as fiberglass, but has higher “R” values and is not subject to mold.



Details on the tax break are available from the Illinois Historic Preservation Agency.
Anselmo @properties business card,
Ask Nagel business card.

Popular posts from this blog

Crime puts La Spata on the spot

By -
Image
Ald. Daniel La Spata (1st Ward) speaks to East Village Association members June 13, 2022. Weekend gunfire turned a scheduled meeting with Ald. Daniel LaSpata into an hourlong discussion of public safety. Residents pressed the alderman on police response to calls and his own response to violent crime. The June 13 meeting was streamed on EVA's Facebook page . La Spata stated that the number of aggravated batteries and carjackings had fallen in East Village's two beats but a rise of robberies had been "frustrating." In weekly calls with 12th District Cmdr. Beth Giltmier, La Spata said he pushed for Chicago Avenue foot patrols. Residents asked if more street cameras would be installed in the ward, noting that early morning shots fired on their block two days before had no police response for more than an hour. La Spata said cameras were funded from the ward's discretionary "menu money" but he would not commit to funding cameras without consulting Giltmi
Read more

Ald. Villegas gets to know East Village

By -
Image
36th Ward Ald. Gilbert Villegas meets East Vlllage Association members Sept. 12, 2022 at Roots Pizza. East Village Association membership meeting Sept. 12, 2022, at Roots Pizza, 1924 W. Chicago Ave. Presiding: Dan Johnson, director East Village again is split in Chicago's City Council redistricting. Ald. Gilbert Villegas introduced himself to East Village Association members Sept. 12. In turn, members sounded him out on how he works with community groups on neighborhood issues. The remap pushes Villegas' 36th Ward boundaries east along Grand Avenue from Belmont Cragin into East Village. A West Town satellite office at 2246 W. Chicago Ave. is staffed Tuesday through Thursday. "I ran in 2019 under an acronym that I still use today, which is PEACE—Public Safety, Education Accountability, City Services and Economic Development," Villegas told EVA members before taking questions. "I'm not an alderman that's about defunding the police. I'm an alderma
Read more