New Rosemont tax rebate program could mean $225,000 for TheRoseHotelChi and lesser amounts for Trulucks and RosebudChicago
Rosemont will give property tax rebates to a hotel and two restaurants under a new program aimed at creating"parity" among local businesses, village officials said.
The tax break also was created -- upon 6-0 vote of the village board this week -- with an eye toward attracting development to the remaining village-owned 40,000-square-foot site within the district. Though the rest of The Pearl opened in 2018, village officials have attributed developers' reluctance to higher Schiller Park Elementary District 81 taxes in that area, relative to the Rosemont Elementary District 78 taxes most other Rosemont businesses pay.
Under the program, property owners would be eligible for a 75% rebate of the difference between what they pay District 81 and what they would pay District 78. by signing up you agree to our terms of service The rebate would come from the village's general fund.But so far eligibility for the rebates wouldn't extend to a big commercial property across the tollway that is also within the Schiller Park school district: Fashion Outlets of Chicago. The two-story, 530,000-square-foot indoor mall owned by Macerich has 130 stores, and property taxes are passed through to them.
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