Property tax breaks for a bakery in the 12th Ward, a vodka distillery in the 25th, and three sites within Chicago’s Enterprise Zone No. 1 are up for committee consideration today. You can read more about each in this brief from the Mayor’s Office. All but one are new applications. The Class 6(b) classification, which is ultimately approved by the Assessor, is designed to encourage industrial development through the development of new industrial facilities, the rehab of existing buildings, and the reutilization of abandoned buildings. Properties receiving Class 6b will be assessed at 10% of market value for the first 10 years, 15% in the 11th year and 20% in the 12th year.

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