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Cook County Board Offers Small Sales Tax Rebate


First Posted: 10- 1-08 05:07 PM   |   Updated: 11- 1-08 05:12 AM

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Chicago Tribune:

Months after raising the county sales taxes by a percentage point, the Cook County Board today approved partial rebates to retailers that build new shops or expand.

The sales tax rebates will match those offered by municipalities, with three caveats: the givebacks can't exceed half the money the county would have collected, and those who get them must boost retail sales and either maintain or increase jobs.

For example, if a new Target were built in Arlington Heights and the village agreed to rebate $50,000 in sales tax each year, the county also would rebate $50,000, but only if it collected $100,000 or more from the Target store.

Commissioner Larry Suffredin (D-Evanston), who provided County Board President Todd Stroger with the last vote he needed to increase the county sales tax to 1.75 percent from .75 percent, proposed the rebate.

Read the whole story: Chicago Tribune

Filed by Seth Maxon  |  Report Corrections