Property owners affected by July floods now eligible for tax credit
Residents of counties declared state disaster areas because of July’s severe flooding are now able to claim a tax credit of up to $750 after Gov. Bruce Rauner signed legislation that aims to help those affected by the storms recover.
“July’s severe storms pushed rivers and lakes over their banks across a wide swath of Illinois,” Rauner said in a release. “Many home and business owners are still working to restore their properties after the inundation of water, debris and mud they suffered through, in some cases for weeks. In northeastern Illinois counties, the flooding was unprecedented. This tax credit offers a measure of much-needed relief.”
The credit is available on properties that are a taxpayer’s primary residence or are owned by a small business. Townships must issue eligibility certificates as proof of damage. The counties eligible for the tax credit are Cook, Lake, Kane, McHenry, Alexander, Clinton, Jackson, Marshall, Union, Woodford, Carroll, Henry, Jo Daviess, Lee, Ogle, Rock Island, Stephenson and Whiteside.
“Unfortunately for many families impacted by this type of disaster, once the initial shock wears off, the reality of financial hardship caused by the devastation can be just as traumatic as the event itself,” Rep. Barbara Wheeler (R-Crystal Lake) said in the release. “In the past, state government has not always responded quickly enough to provide the relief needed for this financial stress. However, this time, the governor and Legislature acted quickly, and I know many of the families still trying to recover are grateful.”