Clark County Enterprise Zone
The Clark County Enterprise Zone was established on July 1, 1990. An enterprise zone is a specific area designated by the State of Illinois in cooperation with a local government to receive various tax incentives and other benefits to stimulate economic activity.The following incentives are availale if building or renovitng withitn the Enterprise Zone: Sales Tax Exemption on Building Materials- Building materis are eleigble for the sales tax exemption include items that are permanently affixed to real proerty such as lumber, mortar, glue-down carpets, paint, wall paper and simialr affixed items. Property Tax Abatment- the abatment applies only to taxes on the increaseed in assessed value attributable ot the new construciton, removatin, or rehabilitiyation. taxes based on teh assessed value of land and existing improvments continue to be collected. The property tax abatement is approximatly an 85% abatemtn on imorvemtns (not all taxing bodies particdapte such as Fire District, Townships, Park District, Lake Land College, etc.) for the first 5 eyars upon completion. in the 6th year, owner pays 25%, 7th year the owner pays 50%, 8th year the owner pays 75% and the 9th year the owner pays 100%. Applications and approval MUST be submited to the Clark County Enterprise Zone Administrator (Nancy Smitley @ City Hall, City of Marshall) prior to the project in order ot quliaty for the incentives.
Specific areas of the following Clark County communities are within the Clark County Enterprise Zone: