Illinois General Assembly - Illinois Compiled Statutes

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35 ILCS 200/9-200

(35 ILCS 200/9-200)

Sec. 9-200.

Previously exempt property.

Property that is purchased,
granted, taken or otherwise transferred from a use exempt from taxation under
this Code to a use not so exempt shall be subject to taxation from the date of
change of use, purchase or conveyance.  In those cases the county collector may
issue a tax bill to the person holding title to the property for that part of
the year during which it was not exempt, and may accept payment of the bill as
full and final settlement of tax liability for that year.

(Source: P.A. 86-1481; 88-455.)