102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB3746

 

Introduced 1/21/2022, by Sen. Win Stoller

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/Art. 31.1 heading new
35 ILCS 200/31.1-1 new
35 ILCS 200/31.1-5 new
35 ILCS 200/31.1-10 new

    Amends the Property Tax Code. Creates the Site Value Tax Law within the Property Tax Code. Provides that a municipality and any taxing district located in whole or in part within that municipality may levy a site value tax upon the assessed value of land within the municipality. Provides that "assessed value" means 33 1/3% of the fair cash value of the land, without regard to buildings, structures, improvements, or other permanent fixtures on the land, except for the value of oil, gas, coal, and other minerals in the land and the right to remove such oil, gas, coal, and other minerals from the land. Contains provisions concerning enforcement and collection. Effective immediately.


LRB102 24234 HLH 33463 b

 

 

A BILL FOR

 

SB3746LRB102 24234 HLH 33463 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Property Tax Code is amended by adding
5Article 31.1 as follows:
 
6    (35 ILCS 200/Art. 31.1 heading new)
7
Article 31.1. Site Value Tax Law

 
8    (35 ILCS 200/31.1-1 new)
9    Sec. 31.1-1. Short title. This Article may be cited as the
10Site Value Tax Law.
 
11    (35 ILCS 200/31.1-5 new)
12    Sec. 31.1-5. Site value tax authorized. In addition to any
13other tax authorized under this Code, each municipality may,
14by ordinance, levy a site value tax upon the assessed value of
15land within the municipality. Any taxing district having
16territory located in whole or in part within a municipality
17that imposes a site value tax under this Section may also
18impose a site value tax, but only on property located wholly
19within the boundaries of the municipality that imposes such a
20tax. Any indebtedness that is collateralized by property taxes
21under this Code shall continue to be collateralized by

 

 

SB3746- 2 -LRB102 24234 HLH 33463 b

1property taxes as well as applicable site value taxes. Taxes
2under this Article shall be levied uniformly by valuation
3within the portion of the taxing district that is subject to
4the tax.
5    As used in this Section, "assessed value" means 33 1/3% of
6the fair cash value of the land, without regard to buildings,
7structures, improvements, or other permanent fixtures on the
8land, except for the value of oil, gas, coal, and other
9minerals in the land and the right to remove such oil, gas,
10coal, and other minerals from the land.
 
11    (35 ILCS 200/31.1-10 new)
12    Sec. 31.1-10. Collection of site value tax; enforcement.
13The tax under this Article shall be collected in accordance
14with the procedures established for the collection of property
15taxes under Article 20 of this Code. For the purpose of
16collecting the tax under this Article, taxpayers shall be
17subject to the due dates and enforcement actions, and shall
18have the rights, remedies, and privileges, set forth in
19Articles 21, 22, and 23 of this Code with respect to the taxes
20under this Article.
 
21    Section 99. Effective date. This Act takes effect upon
22becoming law.