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(35 ILCS 200/9-145)
Sec. 9-145.
Statutory level of assessment.
Except in counties with more
than 200,000 inhabitants which classify property for purposes of taxation,
property shall be valued as follows:
(a) Each tract or lot of property shall be valued at |
| 33 1/3% of its fair cash value.
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(b) Each taxable leasehold estate shall be valued at
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| 33 1/3% of its fair cash value.
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(c) Each building or structure which is located on
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| the right of way of any canal, railroad or other company leased or granted to another company or person for a term of years, shall be valued at 33 1/3% of its fair cash value.
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(d) Any property on which there is a coal or other
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| mine, or stone or other quarry, shall be valued at 33 1/3% of its fair cash value. Oil, gas and other minerals, except coal, shall have value and be assessed separately at 33 1/3% of the fair cash value of such oil, gas and other minerals. Coal shall be assessed separately at 33 1/3% of the coal reserve economic value, as provided in Sections 10-170 through 10-200.
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(e) In the assessment of property encumbered by
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| public easement, any depreciation occasioned by such easement shall be deducted in the valuation of such property. Any property dedicated as a nature preserve or as a nature preserve buffer under the Illinois Natural Areas Preservation Act, for the purposes of this paragraph, is encumbered by a public easement and shall be depreciated for assessment purposes to a level at which its valuation shall be $1 per acre or portion thereof.
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This Section is subject to and modified by Sections 10-110 through 10-140 and
11-5 through 11-65.
(Source: P.A. 91-497, eff. 1-1-00.)
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