Community Investment Property Tax Deferment Program (CIPTDP)
Protecting Legacy Ownership. Prioritizing Stability. Cushioning Tax Shock Without Displacement.
The Problem:
Across District 1—from Bronzeville to Kankakee—longstanding property owners, especially elderly residents, single mothers, veterans or college students living in inherited or owner-occupied buildings, are being pushed to the brink by sudden spikes in property tax assessments. These are not absentee landlords—they are neighbors, caretakers, and contributors to the social fabric of their communities.
When property taxes soar after redevelopment, these community stewards often face a brutal choice: take on crippling debt, sell to speculators, or pass the burden onto tenants. None of those outcomes build long-term neighborhood health.
What This Program Does:
The CIPTDP offers a 4-year federal tax deferment (income or capital gains) for qualified owner-occupants and small business property owners in reassessment-impacted areas—helping them absorb sudden tax increases without displacement or predatory refinancing.
Unlike subsidy-heavy programs or rental-based incentives, CIPTDP doesn’t meddle in rent control or business operations. It simply gives committed, everyday owners breathing room to remain rooted during volatile market shifts.
Eligibility Criteria:
1. Ownership Type (must meet one):
Owner-occupied 2–6 unit residential properties
Mixed-use buildings with both residential and commercial units
Locally owned small business properties (non-chain)
2. Owner Profile:
Located within IL-1
Must be one of the following:
A U.S. veteran
A senior citizen (65+)
A single parent homeowner
A college student who inherited or owns family property
Minimum of 3 years of continuous ownership or direct family inheritance
3. Property Tax Burden Trigger:
Must show a 10% or greater property tax increase from reassessment
Owner must be current on property taxes and local compliance
Application must be submitted within 6 months of receiving reassessment
Community Commitment Requirements:
Applicants must meet at least two of the following:
✅ Have completed capital improvements in the past 3 years
✅ Rent at least one unit to an essential worker (e.g. nurse, teacher, law enforcement)
✅ Provide below-market rent on at least 50% of units (max 80% AMR)
✅ Retained tenants in at least one unit for 2+ years
What the Deferment Covers:
Deferment applies to a portion of federal income or capital gains tax equivalent to the documented increase in local property tax
Capped annually per applicant
Deferment period: 4 years
Must meet reporting requirements annually to maintain eligibility
Why It Matters:
This is a pro-owner, pro-stability, pro-family approach that cushions the blow of rapid neighborhood change without government overreach or regulatory red tape. We’re protecting community anchors—not punishing success. It’s about giving the people who built our neighborhoods a chance to stay and thrive.
Why Homeownership Stability Matters for Every Corner of Illinois’ 1st District
Illinois’ 1st Congressional District is not just the South Side of Chicago—it’s a diverse cross-section of America. From historic city blocks to aging industrial suburbs, rural farm communities, and new-growth towns in Will and Kankakee counties, one concern echoes across the map:
“Will rising property taxes, out-of-town investors, or poor policy decisions force me to sell—or worse, make it impossible for my kids to live where they grew up?”
Whether you’re:
– A retired steelworker in West Pullman
– A young teacher restoring a Kankakee two-flat
– A small landlord on Vincennes Avenue who's kept rents stable for years
Our message is the same:
If you invest in your neighborhood—keep it affordable, keep it safe, and stay rooted—we’ll fight for you, not tax you out.
This isn’t about handouts or heavy-handed programs. It’s about standing up for local ownership, long-term stability, and the right to remain in the community you’ve helped shape. We don’t need more speculators or more red tape—we need policies that reward responsible homeowners, preserve generational wealth, and protect the working backbone of our district.
That’s the commitment I’m bringing to Congress. Not more overreach. Just more common sense—and a government that works for the people who call IL-1 home.
