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Applying for the tax saving program is easy, requiring minimal time and paperwork. |
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How to apply for tax savings in Chicago
The best part about the Housing Choice Voucher Tax Savings Program is that the application process involves minimal paperwork, and there is no limit to the number of properties that can qualify for the program—so long as they are located in a qualifying census tract.
Application forms are available from CHAC’s Resource Center located on the 9th floor of the CNA Building. You may also download an application from this web site at any time. Available in PDF format, the application can be filled in and edited on your computer for added convenience. Please note that applications cannot be sent electronically because of the notarization required. Also, no photocopied or faxed applications will be accepted.
The one-page application requests basic information such as the owner’s name, the address and Permanent Index Number (PIN) of the qualifying property, and the number of units leased to voucher holders.
Owners must fill out their portion of the application, have it notarized and send the original notarized application to:
Ervin Lollar
CHAC, Inc., Finance Department
P.O. Box 1406
Chicago, IL 60690-1406
312.935.2600, ext. 3119
Only original applications will be accepted. The deadline to apply for the 2008 tax year is November 1, 2008.
The property tax savings program is in effect from 2004 to 2014. To take advantage of the savings on multiple properties, owners must submit a separate completed and notarized application for each Permanent Index Number (PIN). To continue to receive the tax break, you must apply for the savings each year.
The amount of savings
Your actual savings will depend on the size of your building, the number of voucher holders who are leased on January 1 of the qualifying year as well as factors such as the market value of the property, the tax rate and the state equalizer. Remember 2008 property taxes are billed in 2009.
DOWNLOADS:
Illinois Housing Authority Contact List
Census tract instructions for tax savings program
