HB5171 95TH GENERAL ASSEMBLY

LRB095 19032 BDD 45209 b

95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB5171

Introduced , by Rep. Harry Osterman

SYNOPSIS AS INTRODUCED:

35 ILCS 200/9-270

Amends the Property Tax Code. Makes a technical change in a Section concerning limitations on the assessments for omitted property.

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Property Tax Code is amended by changing Section 9-270 as follows:

(35 ILCS 200/9-270)

Sec. 9-270. Omitted property; limitations on assessment. A charge for tax and interest for previous years, as provided in Sections 9-265 or 14-40, shall not be made against any property for years prior to the the date of ownership of the person owning the property at the time the liability for the omitted tax was first ascertained. Ownership as used in this section shall be held to refer to bona fide legal and equitable titles or interests acquired for value and without notice of the tax, as may appear by deed, deed of trust, mortgage, certificate of purchase or sale, or other form of contract. No charge for tax of previous years, as provided in Section 9-265, shall be made against any property if (a) the property was last assessed as unimproved, (b) the owner of the property gave notice of subsequent improvements and requested a reassessment as required by Section 9-180, and (c) reassessment of the property was not made within the 16 month period immediately following the receipt of that notice. The owner of property, if known, assessed under this and the preceding section shall be notified by the county assessor, board of review or Department, as the case may require.

(Source: P.A. 86-359; 88-455.)