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(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 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 (1) the assessor failed to notify the board of
review of an omitted assessment in accordance with subsection (a-1) of Section 9-260; (2) the property was
last
assessed as unimproved, the owner of the property gave notice
of
subsequent improvements and requested a reassessment as required by Section
9-180, and reassessment of the property
was not made
within the 16 month period immediately following the receipt of that
notice; (3) the owner of the property gave notice as
required by Section 9-265; (4) the assessor received a building permit
for the property evidencing that new construction had occurred or was
occurring on the property but failed to list the improvement on the tax
rolls; (5) the assessor received a plat map, plat of survey, ALTA
survey, mortgage survey, or other similar document containing the omitted
property but failed to list the improvement on the tax rolls; (6) the
assessor received a real estate transfer declaration indicating a sale
from an exempt property owner to a non-exempt property owner but failed
to list the property on the tax rolls; or (7) the property was the
subject of an assessment appeal before the assessor or the board of
review that had included the intended omitted property as part of the
assessment appeal and provided evidence of its market value. 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. 96-1553, eff. 3-10-11.)
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