The City of Loves Park levies a 0% municipal property tax. Therefore, economic development is very important for the City to bolster retail sales, and maintain and grow job opportunities. With that in mind, the City offers various incentives such as Tax Increment Finance (TIF) districts, Industrial Job Recovery Law TIF districts, and Enterprise Zone incentives.. These incentives are project and area dependent. For more information of these incentives, please contact the Community Development Department. For information on the Loves Park-Machesney Park Enterprise Zone please visit the website HERE.