98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
SB2951

 

Introduced 2/4/2014, by Sen. Tim Bivins

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/12-37 new
35 ILCS 200/16-185
35 ILCS 200/23-20

    Amends the Property Tax Code. Provides that whenever, as the result of a final order of the Property Tax Appeal Board or any court, a property assessment is reduced for a tax year for which the taxes have already been paid and the subject property is still owned by the same person, entity, or a successor entity, the chief county assessment officer shall award to the taxpayer obtaining the order a compensatory assessment reduction for the next assessment year available for assessment adjustment. Provides that the amount of the compensatory assessment reduction shall be equal to the assessment reduction for the prior year or years as ordered by Property Tax Appeal Board or court and provides that the amount may be carried forward. Provides that the award of compensatory assessment reductions shall take place prior to and shall be considered in the determination of tax rates by the county clerk. Provides that the award of compensatory assessment reductions shall not affect the determination of the fair market value of the subject property or its assessed valuation once the compensatory assessment reductions have been exhausted.


LRB098 16883 HLH 51957 b

FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB2951LRB098 16883 HLH 51957 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Property Tax Code is amended by changing
5Sections 16-185 and 23-20 and by adding Section 12-37 as
6follows:
 
7    (35 ILCS 200/12-37 new)
8    Sec. 12-37. Compensatory assessment reductions. Whenever,
9as the result of a final order of the Property Tax Appeal Board
10or any court, a property assessment is reduced for a tax year
11for which the taxes have already been paid and the subject
12property is still owned by the same person, entity, or a
13successor entity, the chief county assessment officer shall
14award to the taxpayer obtaining the order a compensatory
15assessment reduction for the next assessment year available for
16assessment adjustment.
17    The amount of the compensatory assessment reduction shall
18be equal to the assessment reduction for the prior year or
19years as ordered by Property Tax Appeal Board or court. If the
20total amount of the ordered reductions exceeds the assessed
21valuation for the subject parcel in the next available
22assessment year, the chief county assessment officer shall
23reduce the assessed value to zero dollars for that year and

 

 

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1thereafter reduce the assessed value of the subject property
2for the next following assessment year or years until the
3aggregate amount of the compensatory assessment reduction
4equals the full amount of the assessment reductions ordered by
5the Property Tax Appeal Board or court.
6    The award of compensatory assessment reductions under this
7Section shall take place prior to and shall be considered in
8the determination of tax rates by the county clerk. The award
9of compensatory assessment reductions under this Section,
10however, shall not affect the determination of the fair market
11value of the subject property or its assessed valuation once
12the compensatory assessment reductions required by this
13Section have been exhausted.
 
14    (35 ILCS 200/16-185)
15    Sec. 16-185. Decisions. The Board shall make a decision in
16each appeal or case appealed to it, and the decision shall be
17based upon equity and the weight of evidence and not upon
18constructive fraud, and shall be binding upon appellant and
19officials of government. The extension of taxes on any
20assessment so appealed shall not be delayed by any proceeding
21before the Board, and, in case the assessment is altered by the
22Board, any taxes extended upon the unauthorized assessment or
23part thereof shall be abated, or, if already paid, shall be,
24where applicable, the basis for a compensatory assessment
25reduction under Section 12-37 or shall be refunded with

 

 

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1interest as provided in Section 23-20.
2    The decision or order of the Property Tax Appeal Board in
3any such appeal, shall, within 10 days thereafter, be certified
4at no charge to the appellant and to the proper authorities,
5including the board of review or board of appeals whose
6decision was appealed, the county clerk who extends taxes upon
7the assessment in question, and the county collector who
8collects property taxes upon such assessment.
9    If the Property Tax Appeal Board renders a decision
10lowering the assessment of a particular parcel after the
11deadline for filing complaints with the board of review or
12board of appeals or after adjournment of the session of the
13board of review or board of appeals at which assessments for
14the subsequent year are being considered, the taxpayer may,
15within 30 days after the date of written notice of the Property
16Tax Appeal Board's decision, appeal the assessment for the
17subsequent year directly to the Property Tax Appeal Board.
18    If the Property Tax Appeal Board renders a decision
19lowering the assessment of a particular parcel on which a
20residence occupied by the owner is situated, such reduced
21assessment, subject to equalization, shall remain in effect for
22the remainder of the general assessment period as provided in
23Sections 9-215 through 9-225, unless that parcel is
24subsequently sold in an arm's length transaction establishing a
25fair cash value for the parcel that is different from the fair
26cash value on which the Board's assessment is based, or unless

 

 

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1the decision of the Property Tax Appeal Board is reversed or
2modified upon review.
3(Source: P.A. 88-455; 88-660, eff. 9-16-94; 89-671, eff.
48-14-96.)
 
5    (35 ILCS 200/23-20)
6    Sec. 23-20. Effect of protested payments; refunds. No
7protest shall prevent or be a cause of delay in the
8distribution of tax collections to the taxing districts of any
9taxes collected which were not paid under protest. If the final
10order of the Property Tax Appeal Board or of a court results in
11a refund to the taxpayer due to an illegal rate or due to an
12assessment reduction to the extent a compensatory assessment
13reduction is not awardable, refunds shall be made by the
14collector from funds remaining in the Protest Fund until such
15funds are exhausted and thereafter from the next funds
16collected after entry of the final order until full payment of
17the refund and interest thereon has been made. Interest from
18the date of payment, regardless of whether the payment was made
19before the effective date of this amendatory Act of 1997, or
20from the date payment is due, whichever is later, to the date
21of refund shall also be paid to the taxpayer at the annual rate
22of the lesser of (i) 5% or (ii) the percentage increase in the
23Consumer Price Index For All Urban Consumers during the
2412-month calendar year preceding the levy year for which the
25refund was made, as published by the federal Bureau of Labor

 

 

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1Statistics.
2    If the final order of the Property Tax Appeal Board or of a
3court reduces a taxpayer's assessment for a tax year for which
4the taxes have already been paid and the subject property is
5still owned by the same person, entity, or a successor entity,
6then the taxpayer shall be awarded a compensatory assessment
7reduction as provided in Section 12-37.
8(Source: P.A. 94-558, eff. 1-1-06.)