HB3439 103RD GENERAL ASSEMBLY

LRB103 04935 HLH 49945 b

103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB3439

Introduced 2/17/2023, by Rep. Amy Elik

SYNOPSIS AS INTRODUCED:

35 ILCS 200/9-155
35 ILCS 200/9-160
35 ILCS 200/9-162 new

Amends the Property Tax Code. Provides that, beginning in tax year 2025, each chief county assessment officer shall establish a rolling 3-year assessment period for property. Effective immediately.

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Property Tax Code is amended by changing Sections 9-155 and 9-160 and by adding Section 9-162 as follows:

(35 ILCS 200/9-155)

Sec. 9-155. Valuation in general assessment years. On or before June 1 in each general assessment year in all counties with less than 3,000,000 inhabitants, and as soon as he or she reasonably can in each general assessment year in counties with 3,000,000 or more inhabitants, or if any such county is divided into assessment districts as provided in Sections 9-215 through 9-225, as soon as he or she reasonably can in each general assessment year in those districts, the assessor, in person or by deputy, shall actually view and determine as near as practicable the value of each property listed for taxation as of January 1 of that year, or as provided in Section 9-180, and assess the property at 33 1/3% of its fair cash value, or in accordance with Sections 10-110 through 10-140 and 10-170 through 10-200, or in accordance with a county ordinance adopted under Section 4 of Article IX of the Constitution of Illinois. The assessor or deputy shall set down, in the books furnished for that purpose the assessed valuation of properties in one column, the assessed value of improvements in another, and the total valuation in a separate column.

This Section applies before assessment year 2025.

(Source: P.A. 86-1481; 87-1189; 88-455.)

(35 ILCS 200/9-160)

Sec. 9-160. Valuation in years other than general assessment years. On or before June 1 in each year other than the general assessment year, in all counties with less than 3,000,000 inhabitants, and as soon as he or she reasonably can in counties with 3,000,000 or more inhabitants, the assessor shall list and assess all property which becomes taxable and which is not upon the general assessment, and also make and return a list of all new or added buildings, structures or other improvements of any kind, the value of which had not been previously added to or included in the valuation of the property on which such improvements have been made, specifying the property on which each of the improvements has been made, the kind of improvement and the value which, in his or her opinion, has been added to the property by the improvements. The assessment shall also include or exclude, on a proportionate basis in accordance with the provisions of Section 9-180, all new or added buildings, structures or other improvements, the value of which was not included in the valuation of the property for that year, and all improvements which were destroyed or removed. In case of the destruction or injury by fire, flood, cyclone, storm or otherwise, or removal of any structures of any kind, or of the destruction of or any injury to orchard timber, ornamental trees or groves, the value of which has been included in any former valuation of the property, the assessor shall determine as near as practicable how much the value of the property has been diminished, and make return thereof.

Beginning January 1, 1996, the authority within a unit of local government that is responsible for issuing building or occupancy permits shall notify the chief county assessment officer, by December 31 of the assessment year, when a full or partial occupancy permit has been issued for a parcel of real property. The chief county assessment officer shall include in the assessment of the property for the current year the proportionate value of new or added improvements on that property from the date the occupancy permit was issued or from the date the new or added improvement was inhabitable and fit for occupancy or for intended customary use until December 31 of that year. If the chief county assessment officer has already certified the books for the year, the board of review or interim board of review shall assess the new or added improvements on a proportionate basis for the year in which the occupancy permit was issued or the new or added improvement was inhabitable and fit for occupancy or for intended customary use. The proportionate value of the new or added improvements may be assessed by the board of review or interim board of review as omitted property pursuant to Sections 9-265, 9-270, 16-50 and 16-140 in a subsequent year on a proportionate basis for the year in which the occupancy permit was issued or the new or added improvement was inhabitable and fit for occupancy or for intended customary use if it was not assessed in that year.

This Section applies before assessment year 2025.

(Source: P.A. 91-486, eff. 1-1-00.)

(35 ILCS 200/9-162 new)

Sec. 9-162. 3-year assessment period established. This Section applies in tax year 2025 and thereafter.

Beginning in tax year 2025, each chief county assessment officer shall establish a rolling 3-year assessment period for property. On or before June 1 of each year, the assessor, in person or by deputy, shall actually view and determine, as near as practicable, the value of each property listed for taxation for that tax year and determine 33 1/3% of the property's fair cash value, or, if the property is not required to be assessed at 33 1/3% of the property's fair cash value, the property's appropriate statutory level of assessment. The assessor or deputy shall set down, in the books furnished for that purpose the assessed valuation of properties in one column, the assessed value of improvements in another, and the total valuation in a separate column. The assessed value of the property shall then be determined by calculating the average value of the property for the current tax year and the 2 immediately preceding tax years.

Section 99. Effective date. This Act takes effect upon becoming law.