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.


LRB096 17047 HLH 32365 b

FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB5162 LRB096 17047 HLH 32365 b

1     AN ACT concerning revenue.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Property Tax Code is amended by changing
5 Sections 9-155 and 9-220 as follows:
 
6     (35 ILCS 200/9-155)
7     Sec. 9-155. Valuation in general assessment years. On or
8 before June 1 in each general assessment year in all counties
9 with less than 3,000,000 inhabitants, and as soon as he or she
10 reasonably can in each general assessment year in counties with
11 3,000,000 or more inhabitants, or if any such county is divided
12 into assessment districts as provided in Sections 9-215 through
13 9-225, as soon as he or she reasonably can in each general
14 assessment year in those districts, the assessor, in person or
15 by deputy, shall actually view and determine as near as
16 practicable the value of each property listed for taxation as
17 of January 1 of that year, or as provided in Section 9-180, and
18 assess the property at 33 1/3% of its fair cash value, or in
19 accordance with Sections 10-110 through 10-140 and 10-170
20 through 10-200, or in accordance with a county ordinance
21 adopted under Section 4 of Article IX of the Constitution of
22 Illinois. Notwithstanding any other provision of law,
23 beginning in taxable year 2011, all property located in a

 

 

HB5162 - 2 - LRB096 17047 HLH 32365 b

1 county with 3,000,000 or more inhabitants shall be assessed at
2 33 1/3% of the lesser of (i) its fair cash value or (ii) its
3 average fair cash value for the 3 years immediately preceding
4 the taxable year. The assessor or deputy shall set down, in the
5 books furnished for that purpose the assessed valuation of
6 properties in one column, the assessed value of improvements in
7 another, and the total valuation in a separate column.
8 (Source: P.A. 86-1481; 87-1189; 88-455.)
 
9     (35 ILCS 200/9-220)
10     Sec. 9-220. Division into assessment districts; assessment
11 years; counties of 3,000,000 or more.
12     (a) Notwithstanding any other provision in this Code to the
13 contrary, until January 1, 1996, the county board of a county
14 with 3,000,000 or more inhabitants may by resolution divide the
15 county into any number of assessment districts. If the county
16 is organized into townships, the assessment districts shall
17 follow township lines. The assessment districts shall divide,
18 as near as practicable, the work of assessing the property in
19 the county into equal parts but neither the area nor the number
20 of parcels need be equal in the assessment districts. The
21 resolution shall number the assessment districts and provide
22 for a general reassessment of each district at regular
23 intervals determined by the county board.
24     (b) Beginning January 1, 1996 and until January 1, 2011, in
25 counties with 3,000,000 or more inhabitants, assessment

 

 

HB5162 - 3 - LRB096 17047 HLH 32365 b

1 districts shall be subject to general reassessment according to
2 the following schedule:
3         (1) The first assessment district shall be subject to
4     general reassessment in 1997 and every 3 years thereafter.
5         (2) The second assessment district shall be subject to
6     general reassessment in 1998 and every 3 years thereafter.
7         (3) The third assessment district shall be subject to
8     general reassessment in 1996 and every 3 years thereafter.
9     The boundaries of the 3 assessment districts are as
10 follows: (i) the first assessment district shall be that
11 portion of the county located within the boundaries of a
12 municipality with 1,000,000 or more inhabitants, (ii) the
13 second assessment district shall be that portion of the county
14 that lies north of State Route 64 (North Avenue) and outside
15 the boundaries of a municipality with 1,000,000 or more
16 inhabitants, and (iii) the third assessment district shall be
17 that portion of the county that lies south of State Route 64
18 (North Avenue) and outside the boundaries of a municipality
19 with 1,000,000 or more inhabitants.
20     Notwithstanding any other provision of law, beginning
21 January 1, 2011, all property located in a county with
22 3,000,000 or more inhabitants shall be subject to general
23 reassessment on an annual basis.
24 (Source: P.A. 88-455; 89-126, eff. 7-11-95.)
 
25     Section 99. Effective date. This Act takes effect upon
26 becoming law.