|
| | 104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB3830 Introduced 2/18/2025, by Rep. Daniel Didech SYNOPSIS AS INTRODUCED:
| | | Amends the Property Tax Code. Makes a technical change in a Section concerning the definition of "33 1/3%". |
| |
| | A BILL FOR |
|
|
| | HB3830 | | LRB104 09406 HLH 19465 b |
|
|
| 1 | | AN ACT concerning revenue.
|
| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
|
| 4 | | Section 5. The Property Tax Code is amended by changing |
| 5 | | Section 1-55 as follows:
|
| 6 | | (35 ILCS 200/1-55) |
| 7 | | Sec. 1-55. 33 1/3%. One-third of the the fair cash value of |
| 8 | | property, as determined by the Department's sales ratio |
| 9 | | studies for the 3 most recent years preceding the assessment |
| 10 | | year, adjusted to take into account any changes in assessment |
| 11 | | levels implemented since the data for the studies were |
| 12 | | collected. |
| 13 | | (Source: P.A. 86-1481; 87-877; 88-455.) |