New Illinois Business District Proposed
- Feb 12, 2016 | Gail Cole
About 20 miles southwest of Chicago sits the town of Willowbrook, Illinois, home to a 10.5-acre Kmart property that has long been vacant. If all goes according to plan, that land could one day be home to The Willows, a proposed development of restaurants, a supermarket, and several small retail stores.
The Willowbrook Village Board recently approved a plan to gauge the eligibility of the site for a business district designation. If a business district designation is secured, a master plan for the new district will be created. Business districts often impose a special district sales tax to generate revenue for the district.
Proponents of the plan point out that Willowbrook is well-positioned for a business district. Sales tax rates in surrounding areas are currently higher than the 7.25% Willowbrook rate: Darien, Downers Grove and Hinsdale all have a rate of 8.25%; in Western Springs it is 9% (Chicago Tribune).
Business districts in Illinois are permitted to gradually increase the sales tax rate by up to 1%. If the proposed Willows applied the maximum, its sales tax rate would be equal to or less than rates in surrounding areas.
Find accurate local sales tax rates for all states with this free sales tax rate map.