Full Text of HB0567 102nd General Assembly
HB0567 102ND GENERAL ASSEMBLY |
| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022 HB0567 Introduced 2/8/2021, by Rep. Sam Yingling SYNOPSIS AS INTRODUCED: |
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35 ILCS 200/10-30 |
| 35 ILCS 200/10-31 | |
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Amends the Property Tax Code. Provides that, prior to the initial sale of any platted lot, the assessed valuation of platted and subdivided property shall be the assessed value assigned to the property when last assessed prior to its last transfer or conveyance (currently, 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). Provides that the changes made by the amendatory Act apply from January 1, 2019 through December 31, 2023. Makes other changes. Effective immediately.
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| | FISCAL NOTE ACT MAY APPLY | | HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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| 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 10-30 and 10-31 as follows:
| 6 | | (35 ILCS 200/10-30)
| 7 | | Sec. 10-30. Subdivisions; counties of less than 3,000,000.
| 8 | | (a) In counties with less than 3,000,000 inhabitants, the | 9 | | platting and
subdivision of property into separate lots and | 10 | | the development of the
subdivided property with streets, | 11 | | sidewalks, curbs, gutters, sewer, water and
utility lines | 12 | | shall not increase the assessed valuation of all or any part of
| 13 | | the property, if:
| 14 | | (1) The property is platted and subdivided in | 15 | | accordance with the Plat
Act;
| 16 | | (2) The platting occurs after January 1, 1978;
| 17 | | (3) At the time of platting the property is in excess | 18 | | of 5 acres; and
| 19 | | (4) At the time of platting the property is vacant or | 20 | | used as a farm as
defined in Section 1-60.
| 21 | | (b) Except as provided in subsection (c) of this Section, | 22 | | the assessed
valuation of property so platted and subdivided | 23 | | shall be determined each year
based on the estimated price the |
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| 1 | | property would bring at a fair voluntary sale
for use by the | 2 | | buyer for the same purposes for which the property was used | 3 | | when
last assessed prior to its platting.
| 4 | | (c) Upon completion of a habitable structure on any lot of | 5 | | subdivided
property, or upon the use of any lot, either alone | 6 | | or in conjunction
with any contiguous property, for any | 7 | | business, commercial or residential
purpose, or upon the | 8 | | initial sale of any platted lot, including a platted
lot which | 9 | | is vacant: (i) the provisions of subsection (b) of this | 10 | | Section
shall no longer apply in determining the assessed | 11 | | valuation of the lot, (ii)
each lot shall be assessed without | 12 | | regard to any provision of this Section, and
(iii) the | 13 | | assessed valuation of the remaining property, when next | 14 | | determined,
shall be reduced proportionately to reflect the | 15 | | exclusion of the property that
no longer qualifies for | 16 | | valuation under this Section. Holding or offering a
platted | 17 | | lot for initial sale shall not constitute a use of the lot for
| 18 | | business, commercial or residential purposes unless a | 19 | | habitable structure is
situated on the lot or unless the lot is | 20 | | otherwise used for a business,
commercial or residential | 21 | | purpose.
| 22 | | (d) This Section applies before August 14, 2009 ( the | 23 | | effective date of Public Act 96-480) this amendatory Act of | 24 | | the 96th General Assembly and then applies again from | 25 | | beginning January 1, 2012 through December 31, 2018 and again | 26 | | on and after January 1, 2024 . |
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| 1 | | (Source: P.A. 95-135, eff. 1-1-08; 96-480, eff. 8-14-09.)
| 2 | | (35 ILCS 200/10-31)
| 3 | | Sec. 10-31. Subdivisions; counties of less than 3,000,000. | 4 | | (a) In counties with less than 3,000,000 inhabitants, the | 5 | | platting and
subdivision of property into separate lots and | 6 | | the development of the
subdivided property with streets, | 7 | | sidewalks, curbs, gutters, sewer, water and
utility lines | 8 | | shall not increase the assessed valuation of all or any part of
| 9 | | the property, if: | 10 | | (1) The property is platted and subdivided in | 11 | | accordance with the Plat
Act; | 12 | | (2) The platting occurs after January 1, 1978; | 13 | | (3) At the time of platting the property is in excess | 14 | | of 5 acres; and | 15 | | (4) At the time of platting or replatting the property | 16 | | is vacant or used as a farm as
defined in Section 1-60. | 17 | | (b) Except as provided in subsection (c) of this Section, | 18 | | the assessed
valuation of property so platted and subdivided | 19 | | shall be determined
based on the assessed value assigned to | 20 | | the property when last assessed prior to its last transfer or | 21 | | conveyance. An initial sale of any platted lot, including a | 22 | | lot that is vacant, or a transfer to a holder of a mortgage, as | 23 | | defined in Section 15-1207 of the Code of Civil Procedure, | 24 | | pursuant to a mortgage foreclosure proceeding or pursuant to a | 25 | | transfer in lieu of foreclosure, does not disqualify that lot |
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| 1 | | from the provisions of this subsection (b). | 2 | | (c) Upon completion of a habitable structure on any lot of | 3 | | subdivided
property, or upon the use of any lot, either alone | 4 | | or in conjunction
with any contiguous property, for any | 5 | | business, commercial or residential
purpose: (i) the | 6 | | provisions of subsection (b) of this Section
shall no longer | 7 | | apply in determining the assessed valuation of the lot, (ii)
| 8 | | each lot shall be assessed without regard to any provision of | 9 | | this Section, and
(iii) the assessed valuation of the | 10 | | remaining property, when next determined,
shall be reduced | 11 | | proportionately to reflect the exclusion of the property that
| 12 | | no longer qualifies for valuation under this Section. Holding | 13 | | or offering a
platted lot for initial sale shall not | 14 | | constitute a use of the lot for
business, commercial or | 15 | | residential purposes unless a habitable structure is
situated | 16 | | on the lot or unless the lot is otherwise used for a business,
| 17 | | commercial or residential purpose. The replatting of a | 18 | | subdivision or portion of a subdivision does not disqualify | 19 | | the replatted lots from the provisions of subsection (b). | 20 | | (d) This Section applies on and after August 14, 2009 ( the | 21 | | effective date of Public Act 96-480) this amendatory Act of | 22 | | the 96th General Assembly and through December 31, 2011 and | 23 | | then applies again from January 1, 2019 through December 31, | 24 | | 2023 .
| 25 | | (Source: P.A. 96-480, eff. 8-14-09.)
| 26 | | Section 99. Effective date. This Act takes effect upon |
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| 1 | | becoming law.
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