Full Text of SB2882 95th General Assembly
SB2882eng 95TH GENERAL ASSEMBLY
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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 changing | 5 |
| Section 9-265 as follows:
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| (35 ILCS 200/9-265)
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| Sec. 9-265. Omitted property; interest; change in exempt | 8 |
| use or ownership.
If any property is omitted in the assessment | 9 |
| of any year or years, so that the
taxes, for which the property | 10 |
| was liable, have not been paid, or if by reason
of defective | 11 |
| description or assessment, taxes on any property for any year | 12 |
| or
years have not been paid, or if any taxes are refunded under | 13 |
| subsection (b) of
Section 14-5 because the taxes were assessed | 14 |
| in the wrong person's name, the
property, when discovered, | 15 |
| shall be listed and assessed by the board of review
or, in | 16 |
| counties with 3,000,000 or more inhabitants, by the county | 17 |
| assessor
either on his
or her own initiative or when so | 18 |
| directed by the board of appeals or board of
review. The board | 19 |
| of review in counties with less than 3,000,000 inhabitants or | 20 |
| the county assessor in counties with 3,000,000 or more | 21 |
| inhabitants may develop reasonable procedures for the | 22 |
| valuation of omitted property under this Division. For purposes
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| of this Section, "defective description or assessment" |
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| includes a description
or assessment which omits all the | 2 |
| improvements thereon as a result of which
part of the taxes on | 3 |
| the total value of the property as improved remain unpaid.
In | 4 |
| the case of property subject to assessment by the Department, | 5 |
| the property
shall be listed and assessed by the Department. | 6 |
| All such property shall be
placed on the assessment and tax | 7 |
| books. The arrearages of taxes which might
have been assessed, | 8 |
| with 10% interest thereon for each year or portion thereof
from | 9 |
| 2 years after the time the first correct tax bill ought to have | 10 |
| been
received, shall be charged against the property by the | 11 |
| county clerk.
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| When property or acreage omitted by either incorrect survey | 13 |
| or other
ministerial assessor error is discovered and the owner | 14 |
| has paid its tax
bills as received for the year or years of | 15 |
| omission of the parcel, then the
interest authorized by this | 16 |
| Section shall not be chargeable to the owner.
However, nothing | 17 |
| in this Section shall prevent the collection of the principal
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| amount of back taxes due and owing.
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| If any property listed as exempt by the chief county | 20 |
| assessment officer
has a change in use, a change in leasehold | 21 |
| estate, or a change in titleholder
of record by purchase, | 22 |
| grant, taking or transfer, it shall be the obligation
of the | 23 |
| transferee to notify the chief county assessment officer in | 24 |
| writing
within 30 days of the change. The notice shall be sent | 25 |
| by certified mail,
return receipt requested, and shall include | 26 |
| the name and address of the
taxpayer, the legal description of |
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| the property, and the property index number
of the property | 2 |
| when an index number exists. If the failure to give the
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| notification results in the assessing official continuing to | 4 |
| list the property
as exempt in subsequent years, the property | 5 |
| shall be considered omitted
property for purposes of this Code.
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| (Source: P.A. 88-455; 89-126, eff. 7-11-95; 89-671, eff. | 7 |
| 8-14-96.)
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