Illinois General Assembly - Illinois Compiled Statutes

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35 ILCS 200/10-50

(35 ILCS 200/10-50)

Sec. 10-50.

Valuation after 8 year valuation period.

For the 4 years after
the expiration of the 8-year valuation period, the valuation for purposes of
computing the assessed valuation shall be as follows:

For the first year, the base year valuation plus 25% of the adjustment in
value.

For the second year, the base year valuation plus 50% of the adjustment in
value.

For the third year, the base year valuation plus 75% of the adjustment in
value.

For the fourth year, the then current fair cash value.

(Source: P.A. 82-1023; 88-455.)