Yingling Hosting Information Session on New State Tax Credit for Flood Victims
01/03/2018ROUND LAKE BEACH, Ill. — To help victims of last year’s historic summer floods access a new $750 state income tax credit, state Rep. Sam Yingling is hosting a free seminar on Wednesday, Jan. 17 from 6 p.m. to 7 p.m. at the Avon Township office located at 433 E. Washington St., in Round Lake Park.
“When the federal government failed to step in and give local families the financial relief they needed, I passed new legislation creating a one-time tax credit for Lake County victims of the summer flood,” said Yingling. “This credit is only available for the 2017 tax year, so it’s important that flood victims learn about the credit and how to qualify.”
Yingling passed legislation to create a new state income tax credit worth up to $750 for individuals and businesses who suffered property damage due to the floods in July 2017. The tax credit is administered by the township assessor’s office or the CCAO. Homeowners whose property was reassessed as a result of flood damage are not eligible for the credit.
Yingling is partnering with Avon Township Assessor Chris Ditton to provide an overview of the tax credit, guidelines for eligibility and instructions on how to apply. The seminar is free and open to the public. Please RSVP to Rep. Yingling’s office at 847-231-6262 or RepSamYingling@gmail.com .
“I want all local residents and small businesses who could be eligible for this credit to have all of the information they need to claim the credit and save some money on their taxes,” Yingling said. “Anyone who cannot attend this seminar but would like information on this one-time opportunity can contact me at 847-231-6262 or RepSamYingling@gmail.com to learn more before filing their income taxes.”