Crain's: "Time is running out for an affordable housing fix"

Before the conclusion of the General Assembly session at the end of May, state legislators can help alleviate the shortage of affordable rental housing in Illinois by passing legislation creating a new property tax incentive that will encourage landlords to both invest in their building and maintain lower rents.

The Northwest Side Housing Center signed on to support this bill, HB2168, which would establish two tiers of affordability and property tax incentives: 35% or more affordable units come with a 35% reduction in equalized assessed value, and 15% or more affordability come with a 25% decrease in equalized assessed value.

Laura Slabaugh