Business Community Improvement Program
The Village of Germantown Hills is pleased to offer a Business Community Improvement Program. Please review the Program Summary to find out if your improvement project qualifies!
Enterprise Zone
An Enterprise Zone is a specific area designated by the State of Illinois, in cooperation with local government, to receive various tax incentives and other benefits to stimulate economic activity and neighborhood revitalization.
Germantown Hills is part of the Northern Tazewell County Enterprise Zone, which encompasses over 2.5 square miles. With a goal of encouraging economic development and increasing employment opportunities, tax incentives and reduced permit fees can be provided to businesses locating or expanding within the Zone.
GERMANTOWN HILLS ENTERPRISE ZONE MAP
Benefit Summary
- Sales Tax Deduction: 100% of building material and equipment purchased in the State of Illinois associated with a building improvement project.
- Property Tax Abatement: A 100%, 5-year property tax abatement upon completion and final assessment of the project.
- Building Permit Fee Reduction (50%)-excluding sewer hookup fees
To apply for Enterprise Zone benefits, fill out the following application:
For a map showing the entire Enterprise Zone, see the following map: