(35 ILCS 200/10-70)
Sec. 10-70.
Computation of valuation.
(a) Upon receipt of the certificate of rehabilitation, the assessment
officer shall determine the base year valuation and shall make a notation on
each statement of assessment during the 8-year valuation period and the
adjustment valuation period that the valuation of the historic building shall
be based upon the issuance of a certificate of rehabilitation.
(b) Upon revocation of a certificate of rehabilitation,
the assessment officer shall compute the assessed valuation of the
building on the basis of the then current fair cash value.
(c) An historic building receiving a certificate of rehabilitation shall
not be eligible for the homestead improvement exemption during the 8-year
valuation period and adjustment valuation period.
(Source: P.A. 86-1481; 88-455.)
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(35 ILCS 200/10-75)
Sec. 10-75.
Approval of municipal ordinances.
In addition to the powers and
duties described elsewhere in this Code, the Director may approve county or
municipal ordinances which qualify historic buildings for consideration under
this Code. However, no ordinance shall be approved unless it:
(a) is designed to preserve and rehabilitate | ||
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(b) contains criteria for the designation of | ||
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(c) contains criteria for review of demolitions and | ||
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(Source: P.A. 87-818; 88-455.)
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(35 ILCS 200/10-80)
Sec. 10-80.
Rules and regulations.
The Director may promulgate rules and
regulations as may be necessary to administer this Code, including but not
limited to provisions that:
(1) Preclude the issuance of a certificate of | ||
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(2) Specify what costs are eligible to meet the 25% | ||
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These regulations shall not preclude the issuance of a certificate of
rehabilitation for a condominium.
(Source: P.A. 89-675, eff. 8-14-96; 90-114, eff. 1-1-98.)
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(35 ILCS 200/10-85)
Sec. 10-85.
Election by taxing district to deny special tax treatment.
Any
taxing district may elect by a majority vote of its governing authority within
the first 30 days of each calendar year, upon written notice to the county
clerk and the assessment officer, that the provisions of Sections 10-40 through
10-80 shall not apply to taxes that are levied by the taxing district. In the
event the Director has issued a certificate of rehabilitation upon a historic
building within a taxing district in a year prior to that taxing district's
election under this Section or if the rehabilitation period commenced prior to
the taxing district's election, the taxing district's election shall have no
effect on the property for the 8-year valuation period and the adjustment
valuation period.
(Source: P.A. 86-1481; 88-455.)
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(35 ILCS 200/Art. 10 Div. 5 heading) Division 5.
Airports and interstate bridges
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