Full Text of HB5162 96th General Assembly
HB5162 96TH GENERAL ASSEMBLY
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96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010 HB5162
Introduced 1/29/2010, by Rep. Sidney H. Mathias SYNOPSIS AS INTRODUCED: |
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35 ILCS 200/9-155 |
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35 ILCS 200/9-220 |
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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.
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FISCAL NOTE ACT MAY APPLY | |
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
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A BILL FOR
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HB5162 |
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LRB096 17047 HLH 32365 b |
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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 |
| Sections 9-155 and 9-220 as follows:
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| (35 ILCS 200/9-155)
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| 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
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| Illinois. Notwithstanding any other provision of law, | 23 |
| beginning in taxable year 2011, all property located in a |
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HB5162 |
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LRB096 17047 HLH 32365 b |
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| 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.
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| (Source: P.A. 86-1481; 87-1189; 88-455.)
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| (35 ILCS 200/9-220)
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| Sec. 9-220.
Division into assessment districts; assessment | 11 |
| years;
counties of 3,000,000 or more.
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| (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
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| for a general reassessment of each district at regular | 23 |
| intervals determined by
the county board.
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| (b) Beginning January 1, 1996 and until January 1, 2011 , in | 25 |
| counties with 3,000,000 or more
inhabitants, assessment |
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HB5162 |
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LRB096 17047 HLH 32365 b |
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| districts
shall be subject to general reassessment according to | 2 |
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following schedule:
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| (1) The first assessment district shall be subject to | 4 |
| general reassessment
in 1997 and every 3 years thereafter.
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| (2) The second assessment district shall be subject to | 6 |
| general
reassessment in 1998 and every 3 years thereafter.
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| (3) The third assessment district shall be subject to | 8 |
| general reassessment
in 1996 and every 3 years thereafter.
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| 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
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| 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
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| 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.
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| 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.)
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| Section 99. Effective date. This Act takes effect upon | 26 |
| becoming law.
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