Cook County’s Class S program encourages owners of project-based Section 8 multifamily housing in high-cost markets to keep their units affordable by reducing the tax assessment by up to 33 percent. The Class 9 program offers a similar reduction to owners of unsubsidized properties who complete new construction or major rehabilitation of multifamily buildings and reserve 35 percent of the units as affordable. In 2001, Cook County extended the Class 9 program from just low-income census tracts to all areas of the county, an important strategy for encouraging mixed-income development. In 2008, to reduce incentives for converting rentals to condos, the county lowered the property tax assessment for apartment buildings from 26 percent to 20 percent, and to 16 percent in 2009. Each program is administered by the Cook County Assessor’s Office.

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