Rep. Wyvetter H. Younge
Filed: 7/15/2008
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1 | AMENDMENT TO HOUSE BILL 2477
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2 | AMENDMENT NO. ______. Amend House Bill 2477 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The Property Tax Code is amended by changing | ||||||
5 | Section 16-60 as follows:
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6 | (35 ILCS 200/16-60)
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7 | Sec. 16-60. Equalization within counties - Publication and | ||||||
8 | hearing.
After notice and hearing as required by Section | ||||||
9 | 12-40, the board of review
may increase or reduce the entire | ||||||
10 | assessment, or the assessment of any class
included therein, | ||||||
11 | if, in its opinion, the assessment has not been made upon the
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12 | proper basis. The board may also equalize the assessment in any | ||||||
13 | multi-township
or township, or part thereof, or any portion of | ||||||
14 | the county. For taxable year 2008 and thereafter, in the case | ||||||
15 | of a township that has any territory that overlaps any | ||||||
16 | territory of a city that has been certified and designated as a |
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1 | financially distressed city pursuant to the Financially | ||||||
2 | Distressed City Law, no equalization factor shall be applied to | ||||||
3 | the township by the board of review to raise the equalized | ||||||
4 | aggregate assessed valuation of the township to more than 105% | ||||||
5 | of the aggregate assessed valuation of the township.
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6 | (Source: P.A. 86-345; 86-413; 86-1028; 86-1481; 88-455.)
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7 | Section 99. Effective date. This Act takes effect upon | ||||||
8 | becoming law.".
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