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| | 104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 HB2382 Introduced 2/4/2025, by Rep. Natalie A. Manley SYNOPSIS AS INTRODUCED: | | | Amends the Property Tax Code. In provisions concerning platted and subdivided but undeveloped property, provides that (i) beginning with the 2025 taxable year, no property's assessed value shall be reduced to less than $150 under those provisions and (ii) beginning with the 2035 taxable year, no property shall be eligible for calculation of its assessed value under those provisions for more than a 10-year period. |
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| | A BILL FOR |
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| | HB2382 | | LRB104 03068 HLH 13086 b |
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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 10-30 as follows: |
6 | | (35 ILCS 200/10-30) |
7 | | Sec. 10-30. Subdivisions; counties of less than 3,000,000. |
8 | | (a) In counties with less than 3,000,000 inhabitants, the |
9 | | platting and subdivision of property into separate lots and |
10 | | the development of the subdivided property with streets, |
11 | | sidewalks, curbs, gutters, sewer, water and utility lines |
12 | | shall not increase the assessed valuation of all or any part of |
13 | | the property, if: |
14 | | (1) The property is platted and subdivided in |
15 | | accordance with the Plat Act; |
16 | | (2) The platting occurs after January 1, 1978; |
17 | | (3) At the time of platting the property is in excess |
18 | | of 5 acres; and |
19 | | (4) At the time of platting the property is vacant or |
20 | | used as a farm as defined in Section 1-60. |
21 | | (b) Except as provided in subsections subsection (c) , |
22 | | (c-5), and (c-10) of this Section, the assessed valuation of |
23 | | property so platted and subdivided shall be determined each |