Illinois General Assembly - Bill Status for HB1186
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 Bill Status of HB1186  96th General Assembly


Short Description:  PROP TX-PLATTING-VALUATION

House Sponsors
Rep. Franco Coladipietro

Last Action
DateChamber Action
  1/11/2011HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/10-30


Synopsis As Introduced
Amends the Property Tax Code. In a Section concerning the platting and subdividing of property into lots with streets and other improvements in counties of less than 3,000,000 inhabitants, provides that the Section applies to subsequent owners and developers of unplatted, unsubdivided property. Provides that, until (i) the completion of a habitable structure on the property, (ii) the use of the property for business, commercial, or residential purposes, or (iii) the sale of any platted lot, the assessed value for the calendar year in which the property was platted, subdivided, and recorded shall be determined each year based on the same assessment methodology used in the calendar year immediately preceding the calendar year in which the land was platted, subdivided, and recorded (instead of the estimated price the property would bring at a fair voluntary sale for use by the buyer for the same purposes for which the property was used when last assessed prior to its platting). Effective immediately.

Actions 
DateChamber Action
  2/11/2009HouseFiled with the Clerk by Rep. Franco Coladipietro
  2/11/2009HouseFirst Reading
  2/11/2009HouseReferred to Rules Committee
  2/18/2009HouseAssigned to Revenue & Finance Committee
  3/13/2009HouseRule 19(a) / Re-referred to Rules Committee
  1/11/2011HouseSession Sine Die

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