The Clark County Enterprise Zone was established on July 1, 1990. An enterprise zone is a specific area designated by the State of Illinois in cooperation with a local government to receive various tax incentives and other benefits to stimulate economic activity. The following incentives are available if building or renovating within the Enterprise Zone: Sales Tax Exemption on Building Materials- Building materials are eligible for the sales tax exemption to include items that are permanently affixed to real property such as lumber, mortar, glue-down carpets, paint, wallpaper, and similar affixed items. Property Tax Abatement- the abatement applies only to taxes on the increased in assessed value attributable to the new construction, renovation, or rehabilitation. Taxes based on the assessed value of land and existing improvements continue to be collected. The property tax abatement is approximately an 85% abatement on improvements (not all taxing bodies participate such as Fire District, Townships, Park District, Lake Land College, etc.) for the first 5 years upon completion. In the 6th year, the owner pays 25%, the 7th year the owner pays 50%, the 8th year the owner pays 75%, and the 9th year the owner pays 100%. Applications and approval MUST be submitted to the Clark County Enterprise Zone Administrator (Nancy Smitley @ City Hall, City of Marshall) prior to the project in order to qualify for the incentives.
Enterprise Zone Project Application
Specific areas of the following Clark County communities are within the Clark County Enterprise Zone:
Marshall | Martinsville | West Union | Casey | Westfield