SPRINGFIELD – Illinois property owners in 18 disaster declared counties may be eligible to claim an income tax credit worth up to $750 due to flooding in 2017. The Illinois Department of Revenue has released an Informational Bulletin on their website for individuals and businesses who wish to determine their eligibility for the newly enacted Natural Disaster Income Tax Credit.
The Natural Disaster Income Tax Credit is available to individuals and businesses who sustained flood damage to qualified real property in an Illinois declared disaster area and were issued certification from their township assessor or chief county assessment officer.
Eligible counties include Alexander, Carroll, Clinton, Cook, Henry, Jackson, Jo Daviess, Kane, Lake, Lee, Marshall, McHenry, Ogle, Rock Island, Stephenson, Union, Whiteside and Woodford.
Taxpayers, township assessors and chief county assessment officers seeking additional information on the Natural Disaster Income Tax Credit are encouraged to view IDOR’s Informational Bulletin (FY 2018-17) available online at Tax.Illinois.gov.
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