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90_HB3457
35 ILCS 200/10-20
Amends the Property Tax Code. Provides that for purposes
of the repair and maintenance exemption for residential
property, maintenance and repairs to property that enhance
the exterior and interior appearance and quality of the
residence by restoring or renovating it after having been in
a state of disrepair do not "materially alter the existing
character and condition of the residence".
LRB9010001KDks
LRB9010001KDks
1 AN ACT to amend the Property Tax Code by changing Section
2 10-20.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Property Tax Code is amended by changing
6 Section 10-20 as follows:
7 (35 ILCS 200/10-20)
8 Sec. 10-20. Repairs and maintenance of residential
9 property. Maintenance and repairs to residential property
10 owned and used exclusively for a residential purpose shall
11 not increase the assessed valuation of the property. For
12 purposes of this Section, work shall be deemed repair and
13 maintenance when it (1) does not increase the square footage
14 of improvements and does not materially alter the existing
15 character and condition of the structure but is limited to
16 work performed to prolong the life of the existing
17 improvements or to keep the existing improvements in a well
18 maintained condition; and (2) employs materials, such as
19 those used for roofing or siding, whose value is not greater
20 than the replacement value of the materials being replaced.
21 Maintenance and repairs, as those terms are used in this
22 Section, to property that enhance the overall exterior and
23 interior appearance and quality of a residence by restoring
24 or renovating it after having been in a state of disrepair do
25 not "materially alter the existing character and condition"
26 of the residence.
27 (Source: P.A. 80-1289; 80-1364; 88-455.)