RANTOUL, Ill. (WCIA) — Building or renovating a house could mean money in your pocket.
The village and the city school board are partnering to offer a new housing incentive program. People who build or renovate their houses will be refunded property taxes. Officials say they’re hoping the program brings more people to Rantoul.
“With this program, you would pay your property tax bill, and then the village and the city bills’ portion would be rebated back to you. We would cut you a check for our portion. In theory, if your property tax bill was $7,000 that first year, your would be rebated about $3,500 back.”
That refund would apply for five years. It would be a 100 percent rebate the first three years, a 66 percent rebate the fourth year and a 33 percent rebate the fifth year.