Kankakee Mayor Nina Epstein is hopeful action by the City Council will stimulate residential construction and improve the tax base. More housing, the mayor says, means lower taxes for all.
The City Council Monday passed an ordinance allowing new homeowners in the Indian Meadows sub-division to qualify for a property tax rebate. That rebate will be for 90% over ten years, with another 50% rebate for 10 additional years.
It's not just for that sub-division. The ordinance also allows for a 50% rebate for five-years for those people buying a home built on empty city lots.
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