The New Housing Construction Property Tax Rebate Program is a financial incentive from the City of Rock Island to buyers of newly constructed single-family homes or condominiums. This is a reimbursement program with funds paid to the homeowner after the annual property taxes are paid in full.
To qualify, you must be the first owner occupant of the home (the reimbursement is not transferable), and your home must be:
An owner-occupied, single-family home or condominium
Issued a Certificate of Occupancy between July 1, 2013 - June 30, 2019
New construction located in the City of Rock Island on any undeveloped lot
The 10 year City Wide Program allows the home owner to receive a maximum reimbursement of $2,000.00 per year with a maximum reimbursement of $10,000.00 over a ten year period.
New/Old Town Chicago, & TIF Districts -Downtown & North 11th St.
The City offers a special property tax reimbursement program for new owner occupied construction in the New/Old Town Chicago & Downtown/ North 11th St TIF Districts. The reimbursement is for 10 years, with 100% rebated the first year, 90% the second year, 80% the third year, etc. The maximum City rebate is $1,500 per year.