Episode 239: Cook County’s New Program To Reduce Your Assessed Value and Maximize Profitability with Cook County Assessor Fritz Kaegi and CIC’s Stacie Young

Assessor Kaegi and Stacie Young explain how the Assessor’s Office and CIC created a program to incentivize affordable housing providers!

To kick things off, Assessor Kaegi explains how properties are assessed in Illinois and Stacie shares the history of the Class 9 Program. They then break down the Affordable Housing Special Assessment Program including how it works, the increased profits for participating housing providers, and the qualification requirements. Our guests share numerous ways to learn more about the program and how the Assessor's Office and CIC can be a valuable resource for housing providers. Immense value is packed into this episode with insights that can potentially decrease property taxes and maximize profitability!

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03:10 Housing Provider Tip: Don’t forget to appeal your property taxes!

04:26 Intro to our guests, Assessor Fritz Kaegi and Stacie Young!

05:47 How are properties assessed for tax purposes in Cook County and Illinois?

09:22 History of the Class 9 Program!

15:00 Who can benefit from the Affordable Housing Special Assessment Program?

21:58 Requirements and process to qualify for the program.

33:19 Interest levels in the program.

36:41 How to stay in compliance once in the program?

39:35 What’s next for CIC and the Assessor’s Office?

43:56 What is Assessor Kaegi’s and Stacie’s competitive advantage?

46:31 One piece of advice for new investors.