97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
Introduced 2/3/2012, by Rep. Rich Brauer
SYNOPSIS AS INTRODUCED:
Amends the Property Tax Code. Provides that, beginning with the 2012
taxable year, all barns that were first placed in service more than 75
years before the first day of the taxable year and are located in areas
zoned for agriculture shall have an assessed value of zero. Effective
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A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
The Property Tax Code is amended by adding
Section 10-146 as follows:
(35 ILCS 200/10-146 new)
Valuation of barns that are more than 75 years
old and located in areas zoned for agriculture.
(a) Beginning with the 2012 taxable year, all barns that
were first placed in service more than 75 years before the
first day of the taxable year and are located in areas zoned
for agriculture shall have an assessed value of zero.
(b) For purposes of this Section, "barn" means an
agricultural structure, in whatever shape or design, that is
used for the storage of farm products or feed or for the
housing of farm animals or farm equipment.
This Act takes effect upon