HB5162 96TH GENERAL ASSEMBLY

LRB096 17047 HLH 32365 b

96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB5162

Introduced 1/29/2010, by Rep. Sidney H. Mathias

SYNOPSIS AS INTRODUCED:

35 ILCS 200/9-155
35 ILCS 200/9-220

Amends the Property Tax Code. Provides that, beginning January 1, 2011, all property located in a county with 3,000,000 or more inhabitants shall be subject to general reassessment on an annual basis. Provides that all property located in a county with 3,000,000 or more inhabitants shall be assessed at 33 1/3% of the lesser of (i) its fair cash value or (ii) its average fair cash value for the 3 years immediately preceding the taxable year. Effective immediately.

FISCAL NOTE ACT MAY APPLY

HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

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 9-220 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. Notwithstanding any other provision of law, beginning in taxable year 2011, all property located in a county with 3,000,000 or more inhabitants shall be assessed at 33 1/3% of the lesser of (i) its fair cash value or (ii) its average fair cash value for the 3 years immediately preceding the taxable year. 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.

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

(35 ILCS 200/9-220)

Sec. 9-220. Division into assessment districts; assessment years; counties of 3,000,000 or more.

(a) Notwithstanding any other provision in this Code to the contrary, until January 1, 1996, the county board of a county with 3,000,000 or more inhabitants may by resolution divide the county into any number of assessment districts. If the county is organized into townships, the assessment districts shall follow township lines. The assessment districts shall divide, as near as practicable, the work of assessing the property in the county into equal parts but neither the area nor the number of parcels need be equal in the assessment districts. The resolution shall number the assessment districts and provide for a general reassessment of each district at regular intervals determined by the county board.

(b) Beginning January 1, 1996 and until January 1, 2011, in counties with 3,000,000 or more inhabitants, assessment districts shall be subject to general reassessment according to the following schedule:

(1) The first assessment district shall be subject to general reassessment in 1997 and every 3 years thereafter.

(2) The second assessment district shall be subject to general reassessment in 1998 and every 3 years thereafter.

(3) The third assessment district shall be subject to general reassessment in 1996 and every 3 years thereafter.

The boundaries of the 3 assessment districts are as follows: (i) the first assessment district shall be that portion of the county located within the boundaries of a municipality with 1,000,000 or more inhabitants, (ii) the second assessment district shall be that portion of the county that lies north of State Route 64 (North Avenue) and outside the boundaries of a municipality with 1,000,000 or more inhabitants, and (iii) the third assessment district shall be that portion of the county that lies south of State Route 64 (North Avenue) and outside the boundaries of a municipality with 1,000,000 or more inhabitants.

Notwithstanding any other provision of law, beginning January 1, 2011, all property located in a county with 3,000,000 or more inhabitants shall be subject to general reassessment on an annual basis.

(Source: P.A. 88-455; 89-126, eff. 7-11-95.)

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