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35 ILCS 200/9-160
(35 ILCS 200/9-160)
Sec. 9-160.
Valuation in years other than general assessment years.
On or
before June 1 in each year other than the general assessment year, in all
counties with less than 3,000,000 inhabitants, and as soon as he or she
reasonably can in counties with 3,000,000 or more inhabitants, the assessor
shall list and assess all property which becomes taxable and which is not upon
the general assessment, and also make and return a list of all new or added
buildings, structures or other improvements of any kind, the value of which had
not been previously added to or included in the valuation of the property on
which such improvements have been made, specifying the property on which each
of the improvements has been made, the kind of improvement and the value which,
in his or her opinion, has been added to the property by the improvements. The
assessment shall also include or exclude, on a proportionate basis in
accordance with the provisions of Section 9-180, all new or
added buildings, structures or other improvements, the value of which was
not included in the valuation of the property for that year, and all
improvements which were destroyed or removed. In case of the destruction or
injury by fire, flood, cyclone, storm or otherwise, or removal of any
structures of any kind, or of the destruction of or any injury to orchard
timber, ornamental trees or groves, the value of which has been included in any
former valuation of the property, the assessor shall determine as near as
practicable how much the value of the property has been diminished, and make
return thereof.
Beginning January 1, 1996, the authority within a unit of local government
that is responsible for issuing building or occupancy permits shall notify the
chief county assessment officer, by December 31 of the assessment year, when a
full or partial occupancy permit has
been issued for a
parcel of real property. The chief county assessment officer shall
include in the assessment of the property for the current year the
proportionate value of new or added improvements on that property from the date
the occupancy permit was issued or from the date the new or added
improvement was
inhabitable and fit for occupancy or for intended customary use until December 31 of that year. If the chief county
assessment officer has already certified the books for the year, the board of
review or interim board of review shall assess the new or added improvements on
a proportionate basis for the year in which the occupancy permit was issued or the new or added
improvement was
inhabitable and fit for occupancy or for intended customary use.
The proportionate value of
the
new or added improvements may be assessed by the board of review
or interim
board of review as omitted property pursuant to Sections 9-265, 9-270, 16-50
and 16-140 in a subsequent year on a proportionate basis for the year in which
the occupancy permit was
issued or the new or added improvement was
inhabitable and fit for occupancy or for intended customary use
if it was not assessed in that year.
(Source: P.A. 91-486, eff. 1-1-00.)
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