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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008 HB4840
Introduced , by Rep. William B. Black SYNOPSIS AS INTRODUCED: |
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Amends the Property Tax Code. Requires the county clerk to abate a
percentage of the property taxes levied on each parcel of property. Sets forth the amount of the exemption based upon the Judicial District in which the property is located. Effective immediately.
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FISCAL NOTE ACT MAY APPLY |
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT |
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A BILL FOR
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HB4840 |
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LRB095 17769 BDD 43845 b |
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| AN ACT concerning revenue.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Property Tax Code is amended by adding |
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| Section 18-179 as follows: |
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| (35 ILCS 200/18-179 new) |
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| Sec. 18-179. Homestead abatement. |
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| (a) The county clerk shall abate the taxes levied on each |
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| parcel of homestead property. The amount of the abatement is as |
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| follows: |
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| (1) For homestead property that is located in the First |
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| Judicial District, the abatement is the amount of the taxes |
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| levied that exceeds $15,000; |
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| (2) For homestead property that is located in the |
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| Second Judicial District, the abatement is the amount of |
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| the taxes levied that exceeds $15,000; |
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| (3) For homestead property that is located in the Third |
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| Judicial District, the abatement is the amount of the taxes |
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| levied that exceeds $12,500; |
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| (4) For homestead property that is located in the |
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| Fourth Judicial District, the abatement is the amount of |
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| the taxes levied that exceeds $10,000; and |
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| (5) For homestead property that is located in the Fifth |