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IL
Bloomington Property Tax Abatement
Bloomington may abate part of the City's property tax revenue to support qualifying investment and economic growth projects.
About this program
The City of Bloomington may provide property tax abatement for individual properties or groups of properties as a discretionary economic development incentive. The incentive is intended to spur investment, expansion, retention, redevelopment, and job creation by reducing a portion of City property taxes for approved projects.
Eligibility
Businesses, property owners, and developers with qualifying investment or redevelopment projects in Bloomington may be considered for City property tax abatement.
Requirements
- Project must be located in Bloomington.
- Applicant must present a qualifying investment, expansion, retention, or redevelopment project.
- Applicant must provide project cost, property, employment, and economic impact information.