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90_HB0623
35 ILCS 200/15-180
Amends the Property Tax Code. Deletes provision granting
the homestead improvement exemption to property following a
catastropic event. Provides that the exemption shall be
available for the rebuilding of a residential structure
destroyed or rendered uninhabitable or otherwise unfit for
occupancy or for customary use by accidental means (excluding
destruction resulting from the willful misconduct of the
owner). Requires that the owner provide proof to the chief
county assessment officer that the improvement is eligible
for the exemption. Requires that the structure be rebuilt
within 2 years after becoming eligible for the exemption.
Limits the exemption to $30,000 per year in fair cash value
and applies to the increase in value of the rebuilt structure
over the value of the structure before it was destroyed or
rendered uninhabitable or otherwise unfit for occupancy or
for customary use. Effective January 1, 1998.
LRB9001746KDcc
LRB9001746KDcc
1 AN ACT to amend the Property Tax Code by changing Section
2 15-180.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Property Tax Code is amended by changing
6 Section 15-180 as follows:
7 (35 ILCS 200/15-180)
8 (Text of Section before amendment by P.A. 89-690)
9 Sec. 15-180. Homestead improvements. Homestead
10 properties that have been improved are entitled to a
11 homestead improvement exemption, limited to $30,000 per year
12 in fair cash value, when that property is owned and used
13 exclusively for a residential purpose and upon demonstration
14 that a proposed increase in assessed value is attributable
15 solely to a new improvement of an existing structure. The
16 amount of the exemption shall be limited to the fair cash
17 value added by the new improvement and shall continue for 4
18 years from the date the improvement is completed and
19 occupied, or until the next following general assessment of
20 that property, whichever is later.
21 In counties of less than 3,000,000 inhabitants, in
22 addition to the notice requirement under Section 12-30, a
23 supervisor of assessments, county assessor, or township or
24 multi-township assessor responsible for adding an assessable
25 improvement to a residential property's assessment shall
26 either notify a taxpayer whose assessment has been changed
27 since the last preceding assessment that he or she may be
28 eligible for the exemption provided under this Section or
29 shall grant the exemption automatically.
30 (Source: P.A. 88-455; 89-595, eff. 1-1-97.)
31 (Text of Section after amendment by P.A. 89-690)
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1 Sec. 15-180. Homestead improvements. Homestead
2 properties that have been improved and residential structures
3 on homestead property that have been rebuilt following a
4 catastrophic event are entitled to a homestead improvement
5 exemption, limited to $30,000 per year in fair cash value,
6 when that property is owned and used exclusively for a
7 residential purpose and upon demonstration that a proposed
8 increase in assessed value is attributable solely to: (i) a
9 new improvement of an existing structure or (ii) the
10 rebuilding of a residential structure destroyed or rendered
11 uninhabitable or otherwise unfit for occupancy or for
12 customary use by accidental means (excluding that resulting
13 from the willful misconduct of the owner of the property). To
14 be eligible for an exemption under this Section for rebuilt
15 structures, the owner of the property must, within 90 days
16 after applying for a permit to rebuild the structure, provide
17 to the chief county assessment officer such documentation as
18 he or she may require, including a copy of the permit to
19 rebuild the structure, as proof that the improvement is
20 eligible. The structure must be rebuilt within 2 years after
21 becoming eligible for the exemption. The exemption for
22 rebuilt structures under this Section is limited to $30,000
23 per year in fair cash value and applies to the increase in
24 value of the rebuilt structure over the value of the
25 structure before it was destroyed or rendered uninhabitable
26 or otherwise unfit for occupancy or customary use. the
27 rebuilding of a residential structure following a
28 catastrophic event. To be eligible for an exemption under
29 this Section after a catastrophic event, the residential
30 structure must be rebuilt within 2 years after the
31 catastrophic event. The exemption for rebuilt structures
32 under this Section applies to the increase in value of the
33 rebuilt structure over the value of the structure before the
34 catastrophic event. The amount of the exemption shall be
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1 limited to the fair cash value added by the new improvement
2 or rebuilding and shall continue for 4 years from the date
3 the improvement or rebuilding is completed and occupied, or
4 until the next following general assessment of that property,
5 whichever is later.
6 A proclamation of disaster by the President of the United
7 States or Governor of the State of Illinois is not a
8 prerequisite to the classification of an occurrence as a
9 catastrophic event under this Section. A "catastrophic
10 event" may include an occurrence of widespread or severe
11 damage or loss of property resulting from any catastrophic
12 cause including but not limited to fire, including arson
13 (provided the fire was not caused by the willful action of an
14 owner or resident of the property), flood, earthquake, wind,
15 storm, explosion, or extended periods of severe inclement
16 weather. In the case of a residential structure affected by
17 flooding, the structure shall not be eligible for this
18 homestead improvement exemption unless it is located within a
19 local jurisdiction which is participating in the National
20 Flood Insurance Program.
21 In counties of less than 3,000,000 inhabitants, in
22 addition to the notice requirement under Section 12-30, a
23 supervisor of assessments, county assessor, or township or
24 multi-township assessor responsible for adding an assessable
25 improvement to a residential property's assessment shall
26 either notify a taxpayer whose assessment has been changed
27 since the last preceding assessment that he or she may be
28 eligible for the exemption provided under this Section or
29 shall grant the exemption automatically.
30 (Source: P.A. 88-455; 89-595, eff. 1-1-97; 89-690, eff.
31 6-1-97; revised 1-15-97)
32 Section 95. No acceleration or delay. Where this Act
33 makes changes in a statute that is represented in this Act by
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1 text that is not yet or no longer in effect (for example, a
2 Section represented by multiple versions), the use of that
3 text does not accelerate or delay the taking effect of (i)
4 the changes made by this Act or (ii) provisions derived from
5 any other Public Act.