Full Text of SB0013 95th General Assembly
SB0013sam001 95TH GENERAL ASSEMBLY
|
Sen. Terry Link
Filed: 2/21/2007
|
|
09500SB0013sam001 |
|
LRB095 07225 BDD 31069 a |
|
| 1 |
| AMENDMENT TO SENATE BILL 13
| 2 |
| AMENDMENT NO. ______. Amend Senate Bill 13 by replacing | 3 |
| everything after the enacting clause with the following: | 4 |
| "Section 5. The Property Tax Code is amended by changing | 5 |
| Sections 15-170 and 15-176 and by adding Section 15-167 as | 6 |
| follows: | 7 |
| (35 ILCS 200/15-167 new) | 8 |
| Sec. 15-167. Returning Veterans' Homestead Exemption. | 9 |
| (a) A homestead exemption, limited to a reduction set forth | 10 |
| under subsection (b), from the property's value, as equalized | 11 |
| or assessed by the Department, is granted for property that is | 12 |
| owned and occupied as a residence by a veteran returning from | 13 |
| an armed conflict involving the armed forces of the United | 14 |
| States who is liable for paying real estate taxes on the | 15 |
| property and is an owner of record of the property or has a | 16 |
| legal or equitable interest therein as evidenced by a written |
|
|
|
09500SB0013sam001 |
- 2 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| instrument, except for a leasehold interest, other than a | 2 |
| leasehold interest of land on which a single family residence | 3 |
| is located, which is occupied as a residence by a veteran | 4 |
| returning from an armed conflict involving the armed forces of | 5 |
| the United States who has an ownership interest therein, legal, | 6 |
| equitable or as a lessee, and on which he or she is liable for | 7 |
| the payment of property taxes. For purposes of the exemption | 8 |
| under this Section, "veteran" means an Illinois resident who | 9 |
| has served as a member of the United States Armed Forces, a | 10 |
| member of the Illinois National Guard, or a member of the | 11 |
| United States Reserve Forces. | 12 |
| (b) In all counties, the reduction is $5,000 and only for | 13 |
| the tax year in which the veteran returns from active duty in | 14 |
| an armed conflict involving the armed forces of the United | 15 |
| States. For land improved with an apartment building owned and | 16 |
| operated as a cooperative, the maximum reduction from the value | 17 |
| of the property, as equalized by the Department, must be | 18 |
| multiplied by the number of apartments or units occupied by a | 19 |
| veteran returning from an armed conflict involving the armed | 20 |
| forces of the United States who is liable, by contract with the | 21 |
| owner or owners of record, for paying property taxes on the | 22 |
| property and is an owner of record of a legal or equitable | 23 |
| interest in the cooperative apartment building, other than a | 24 |
| leasehold interest. In a cooperative where a homestead | 25 |
| exemption has been granted, the cooperative association or the | 26 |
| management firm of the cooperative or facility shall credit the |
|
|
|
09500SB0013sam001 |
- 3 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| savings resulting from that exemption only to the apportioned | 2 |
| tax liability of the owner or resident who qualified for the | 3 |
| exemption. Any person who willfully refuses to so credit the | 4 |
| savings is guilty of a Class B misdemeanor. | 5 |
| (c) Application must be made during the application period | 6 |
| in effect for the county of his or her residence. The assessor | 7 |
| or chief county assessment officer may determine the | 8 |
| eligibility of residential property to receive the homestead | 9 |
| exemption provided by this Section by application, visual | 10 |
| inspection, questionnaire, or other reasonable methods. The | 11 |
| determination must be made in accordance with guidelines | 12 |
| established by the Department. | 13 |
| (d) The exemption under this Section is in addition to any | 14 |
| other homestead provided in Sections 15-170 through 15-176. | 15 |
| Notwithstanding Sections 6 and 8 of the State Mandates Act, no | 16 |
| reimbursement by the State is required for the implementation | 17 |
| of any mandate created by this Section.
| 18 |
| (35 ILCS 200/15-170)
| 19 |
| Sec. 15-170. Senior Citizens Homestead Exemption. An | 20 |
| annual homestead
exemption limited, except as described here | 21 |
| with relation to cooperatives or
life care facilities, to a
| 22 |
| maximum reduction set forth below from the property's value, as | 23 |
| equalized or
assessed by the Department, is granted for | 24 |
| property that is occupied as a
residence by a person 65 years | 25 |
| of age or older who is liable for paying real
estate taxes on |
|
|
|
09500SB0013sam001 |
- 4 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| the property and is an owner of record of the property or has a
| 2 |
| legal or equitable interest therein as evidenced by a written | 3 |
| instrument,
except for a leasehold interest, other than a | 4 |
| leasehold interest of land on
which a single family residence | 5 |
| is located, which is occupied as a residence by
a person 65 | 6 |
| years or older who has an ownership interest therein, legal,
| 7 |
| equitable or as a lessee, and on which he or she is liable for | 8 |
| the payment
of property taxes. Before taxable year 2004, the | 9 |
| maximum reduction shall be $2,500 in counties with
3,000,000 or | 10 |
| more inhabitants and $2,000 in all other counties. For taxable | 11 |
| years 2004 through 2005, the maximum reduction shall be $3,000 | 12 |
| in all counties. For taxable years 2006 and thereafter, the | 13 |
| maximum reduction shall be $3,500 in all counties.
| 14 |
| For land
improved with an apartment building owned and | 15 |
| operated as a cooperative, the maximum reduction from the value | 16 |
| of the property, as
equalized
by the Department, shall be | 17 |
| multiplied by the number of apartments or units
occupied by a | 18 |
| person 65 years of age or older who is liable, by contract with
| 19 |
| the owner or owners of record, for paying property taxes on the | 20 |
| property and
is an owner of record of a legal or equitable | 21 |
| interest in the cooperative
apartment building, other than a | 22 |
| leasehold interest. For land improved with
a life care | 23 |
| facility, the maximum reduction from the value of the property, | 24 |
| as
equalized by the Department, shall be multiplied by the | 25 |
| number of apartments or
units occupied by persons 65 years of | 26 |
| age or older, irrespective of any legal,
equitable, or |
|
|
|
09500SB0013sam001 |
- 5 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| leasehold interest in the facility, who are liable, under a
| 2 |
| contract with the owner or owners of record of the facility, | 3 |
| for paying
property taxes on the property. In a
cooperative or | 4 |
| a life care facility where a
homestead exemption has been | 5 |
| granted, the cooperative association or the
management firm of | 6 |
| the cooperative or facility shall credit the savings
resulting | 7 |
| from that exemption only to
the apportioned tax liability of | 8 |
| the owner or resident who qualified for
the exemption.
Any | 9 |
| person who willfully refuses to so credit the savings shall be | 10 |
| guilty of a
Class B misdemeanor. Under this Section and | 11 |
| Sections 15-175 and 15-176, "life care
facility" means a | 12 |
| facility as defined in Section 2 of the Life Care Facilities
| 13 |
| Act, with which the applicant for the homestead exemption has a | 14 |
| life care
contract as defined in that Act.
| 15 |
| When a homestead exemption has been granted under this | 16 |
| Section and the person
qualifying subsequently becomes a | 17 |
| resident of a facility licensed under the
Nursing Home Care | 18 |
| Act, the exemption shall continue so long as the residence
| 19 |
| continues to be occupied by the qualifying person's spouse if | 20 |
| the spouse is 65
years of age or older, or if the residence | 21 |
| remains unoccupied but is still
owned by the person qualified | 22 |
| for the homestead exemption.
| 23 |
| A person who will be 65 years of age
during the current | 24 |
| assessment year
shall
be eligible to apply for the homestead | 25 |
| exemption during that assessment
year.
Application shall be | 26 |
| made during the application period in effect for the
county of |
|
|
|
09500SB0013sam001 |
- 6 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| his residence.
| 2 |
| Beginning with assessment year 2003, for taxes payable in | 3 |
| 2004,
property
that is first occupied as a residence after | 4 |
| January 1 of any assessment year by
a person who is eligible | 5 |
| for the senior citizens homestead exemption under this
Section | 6 |
| must be granted a pro-rata exemption for the assessment year. | 7 |
| The
amount of the pro-rata exemption is the exemption
allowed | 8 |
| in the county under this Section divided by 365 and multiplied | 9 |
| by the
number of days during the assessment year the property | 10 |
| is occupied as a
residence by a
person eligible for the | 11 |
| exemption under this Section. The chief county
assessment | 12 |
| officer must adopt reasonable procedures to establish | 13 |
| eligibility
for this pro-rata exemption.
| 14 |
| The assessor or chief county assessment officer may | 15 |
| determine the eligibility
of a life care facility to receive | 16 |
| the benefits provided by this Section, by
affidavit, | 17 |
| application, visual inspection, questionnaire or other | 18 |
| reasonable
methods in order to insure that the tax savings | 19 |
| resulting from the exemption
are credited by the management | 20 |
| firm to the apportioned tax liability of each
qualifying | 21 |
| resident. The assessor may request reasonable proof that the
| 22 |
| management firm has so credited the exemption.
| 23 |
| The chief county assessment officer of each county with | 24 |
| less than 3,000,000
inhabitants shall provide to each person | 25 |
| allowed a homestead exemption under
this Section a form to | 26 |
| designate any other person to receive a
duplicate of any notice |
|
|
|
09500SB0013sam001 |
- 7 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| of delinquency in the payment of taxes assessed and
levied | 2 |
| under this Code on the property of the person receiving the | 3 |
| exemption.
The duplicate notice shall be in addition to the | 4 |
| notice required to be
provided to the person receiving the | 5 |
| exemption, and shall be given in the
manner required by this | 6 |
| Code. The person filing the request for the duplicate
notice | 7 |
| shall pay a fee of $5 to cover administrative costs to the | 8 |
| supervisor of
assessments, who shall then file the executed | 9 |
| designation with the county
collector. Notwithstanding any | 10 |
| other provision of this Code to the contrary,
the filing of | 11 |
| such an executed designation requires the county collector to
| 12 |
| provide duplicate notices as indicated by the designation. A | 13 |
| designation may
be rescinded by the person who executed such | 14 |
| designation at any time, in the
manner and form required by the | 15 |
| chief county assessment officer.
| 16 |
| The assessor or chief county assessment officer may | 17 |
| determine the
eligibility of residential property to receive | 18 |
| the homestead exemption provided
by this Section by | 19 |
| application, visual inspection, questionnaire or other
| 20 |
| reasonable methods. The determination shall be made in | 21 |
| accordance with
guidelines established by the Department.
| 22 |
| In all counties with less than 3,000,000 inhabitants , the | 23 |
| county board may by
resolution provide that if a person has | 24 |
| been granted a homestead exemption
under this Section, the | 25 |
| person qualifying need not reapply for the exemption.
| 26 |
| In counties with less than 3,000,000 inhabitants, if the |
|
|
|
09500SB0013sam001 |
- 8 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| assessor or chief
county assessment officer requires annual | 2 |
| application for verification of
eligibility for an exemption | 3 |
| once granted under this Section, the application
shall be | 4 |
| mailed to the taxpayer.
| 5 |
| The assessor or chief county assessment officer shall | 6 |
| notify each person
who qualifies for an exemption under this | 7 |
| Section that the person may also
qualify for deferral of real | 8 |
| estate taxes under the Senior Citizens Real Estate
Tax Deferral | 9 |
| Act. The notice shall set forth the qualifications needed for
| 10 |
| deferral of real estate taxes, the address and telephone number | 11 |
| of
county collector, and a
statement that applications for | 12 |
| deferral of real estate taxes may be obtained
from the county | 13 |
| collector.
| 14 |
| Notwithstanding Sections 6 and 8 of the State Mandates Act, | 15 |
| no
reimbursement by the State is required for the | 16 |
| implementation of any mandate
created by this Section.
| 17 |
| (Source: P.A. 93-511, eff. 8-11-03; 93-715, eff. 7-12-04; | 18 |
| 94-794, eff. 5-22-06.)
| 19 |
| (35 ILCS 200/15-176)
| 20 |
| Sec. 15-176. Alternative general homestead exemption.
| 21 |
| (a) For the assessment years as determined under subsection | 22 |
| (j), in any county that has elected, by an ordinance in | 23 |
| accordance with subsection (k), to be subject to the provisions | 24 |
| of this Section in lieu of the provisions of Section 15-175, | 25 |
| homestead property is
entitled to
an annual homestead exemption |
|
|
|
09500SB0013sam001 |
- 9 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| equal to a reduction in the property's equalized
assessed
value | 2 |
| calculated as provided in this Section.
| 3 |
| (b) As used in this Section:
| 4 |
| (1) "Assessor" means the supervisor of assessments or | 5 |
| the chief county assessment officer of each county.
| 6 |
| (2) "Adjusted homestead value" means the lesser of the | 7 |
| following values:
| 8 |
| (A) The property's base homestead value increased | 9 |
| by 7% for each
tax year after the base year through and | 10 |
| including the current tax year, or, if the property is | 11 |
| sold or ownership is otherwise transferred, the | 12 |
| property's base homestead value increased by 7% for | 13 |
| each tax year after the year of the sale or transfer | 14 |
| through and including the current tax year. The | 15 |
| increase by 7% each year is an increase by 7% over the | 16 |
| prior year.
| 17 |
| (B) The property's equalized assessed value for | 18 |
| the current tax
year minus : (i) $4,500 in Cook County | 19 |
| or $3,500 in all other counties in tax year 2003 ;
or
| 20 |
| (ii) $5,000 in all counties in tax years
year 2004 and | 21 |
| 2005; and (iii) the lesser of $5,000 or an amount equal | 22 |
| to the increase in the equalized assessed value for the | 23 |
| current tax year above the equalized value for 1977 in | 24 |
| tax year 2006 and thereafter.
| 25 |
| (3) "Base homestead value".
| 26 |
| (A) Except as provided in subdivision (b)(3)(A-5) |
|
|
|
09500SB0013sam001 |
- 10 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| or (b)(3)(B), "base homestead value" means the | 2 |
| equalized assessed value of the property for the base | 3 |
| year
prior to exemptions, minus (i) $4,500 in Cook | 4 |
| County or $3,500 in all other counties in tax year 2003 | 5 |
| or (ii) $5,000 in all counties in tax year 2004 and | 6 |
| thereafter, provided that it was assessed for that
year | 7 |
| as residential property qualified for any of the | 8 |
| homestead exemptions
under Sections 15-170 through | 9 |
| 15-175 of this Code, then in force, and
further | 10 |
| provided that the property's assessment was not based | 11 |
| on a reduced
assessed value resulting from a temporary | 12 |
| irregularity in the property for
that year. Except as | 13 |
| provided in subdivision (b)(3)(B), if the property did | 14 |
| not have a
residential
equalized assessed value for the | 15 |
| base year, then "base homestead value" means the base
| 16 |
| homestead value established by the assessor under | 17 |
| subsection (c).
| 18 |
| (A-5) On or before July 1, 2007, in Cook County, | 19 |
| the base homestead value, as set forth under | 20 |
| subdivision (b)(3)(A) and except as provided under | 21 |
| subdivision (b) (3) (B), must be recalculated as the | 22 |
| equalized assessed value of the property for the base | 23 |
| year, prior to exemptions, minus: | 24 |
| (1) if the general assessment year for the | 25 |
| property was 2003, the lesser of (i) $4,500 or (ii) | 26 |
| the amount equal to the increase in equalized |
|
|
|
09500SB0013sam001 |
- 11 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| assessed value for the 2002 tax year above the | 2 |
| equalized assessed value for 1977; | 3 |
| (2) if the general assessment year for the | 4 |
| property was 2004, the lesser of (i) $4,500 or (ii) | 5 |
| the amount equal to the increase in equalized | 6 |
| assessed value for the 2003 tax year above the | 7 |
| equalized assessed value for 1977; | 8 |
| (3) if the general assessment year for the | 9 |
| property was 2005, the lesser of (i) $5,000 or (ii) | 10 |
| the amount equal to the increase in equalized | 11 |
| assessed value for the 2004 tax year above the | 12 |
| equalized assessed value for 1977.
| 13 |
| (B) If the property is sold or ownership is | 14 |
| otherwise transferred, other than sales or transfers | 15 |
| between spouses or between a parent and a child, "base | 16 |
| homestead value" means the equalized assessed value of | 17 |
| the property at the time of the sale or transfer prior | 18 |
| to exemptions, minus : (i) $4,500 in Cook County or | 19 |
| $3,500 in all other counties in tax year 2003 ;
or (ii) | 20 |
| $5,000 in all counties in tax years
year 2004 and 2005; | 21 |
| and (iii) the lesser of $5,000 or an amount equal to | 22 |
| the increase in the equalized assessed value for the | 23 |
| current tax year above the equalized value for 1977 in | 24 |
| tax year 2006 and thereafter, provided that it was | 25 |
| assessed as residential property qualified for any of | 26 |
| the homestead exemptions
under Sections 15-170 through |
|
|
|
09500SB0013sam001 |
- 12 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| 15-175 of this Code, then in force, and
further | 2 |
| provided that the property's assessment was not based | 3 |
| on a reduced
assessed value resulting from a temporary | 4 |
| irregularity in the property.
| 5 |
| (3.5) "Base year" means (i) tax year 2002 in Cook | 6 |
| County or (ii) tax year 2005 or 2006
2002 or 2003 in all | 7 |
| other counties in accordance with the designation made by | 8 |
| the county as provided in subsection (k).
| 9 |
| (4) "Current tax year" means the tax year for which the | 10 |
| exemption under
this Section is being applied.
| 11 |
| (5) "Equalized assessed value" means the property's | 12 |
| assessed value as
equalized by the Department.
| 13 |
| (6) "Homestead" or "homestead property" means:
| 14 |
| (A) Residential property that as of January 1 of | 15 |
| the tax year is
occupied by its owner or owners as his, | 16 |
| her, or their principal dwelling
place, or that is a | 17 |
| leasehold interest on which a single family residence | 18 |
| is
situated, that is occupied as a residence by a | 19 |
| person who has a legal or
equitable interest therein | 20 |
| evidenced by a written instrument, as an owner
or as a | 21 |
| lessee, and on which the person is liable for the | 22 |
| payment of
property taxes. Residential units in an | 23 |
| apartment building owned and
operated as a | 24 |
| cooperative, or as a life care facility, which are | 25 |
| occupied by
persons who hold a legal or equitable | 26 |
| interest in the cooperative apartment
building or life |
|
|
|
09500SB0013sam001 |
- 13 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| care facility as owners or lessees, and who are liable | 2 |
| by
contract for the payment of property taxes, shall be | 3 |
| included within this
definition of homestead property.
| 4 |
| (B) A homestead includes the dwelling place, | 5 |
| appurtenant
structures, and so much of the surrounding | 6 |
| land constituting the parcel on
which the dwelling | 7 |
| place is situated as is used for residential purposes. | 8 |
| If
the assessor has established a specific legal | 9 |
| description for a portion of
property constituting the | 10 |
| homestead, then the homestead shall be limited to
the | 11 |
| property within that description.
| 12 |
| (7) "Life care facility" means a facility as defined in | 13 |
| Section 2 of the
Life
Care Facilities Act.
| 14 |
| (c) If the property did not have a residential equalized | 15 |
| assessed value for
the base year as provided in subdivision | 16 |
| (b)(3)(A) of this Section, then the assessor
shall first | 17 |
| determine an initial value for the property by comparison with
| 18 |
| assessed values for the base year of other properties having | 19 |
| physical and
economic characteristics similar to those of the | 20 |
| subject property, so that the
initial value is uniform in | 21 |
| relation to assessed values of those other
properties for the | 22 |
| base year. The product of the initial value multiplied by
the | 23 |
| equalized factor for the base year for homestead properties in | 24 |
| that county, less : (i) $4,500 in Cook County or $3,500 in all | 25 |
| other counties in tax years
year 2003 ;
or (ii) $5,000 in all | 26 |
| counties in tax year 2004 and 2005; and (iii) the lesser of |
|
|
|
09500SB0013sam001 |
- 14 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| $5,000 or an amount equal to the increase in the equalized | 2 |
| assessed value for the current tax year above the equalized | 3 |
| value for 1977 in tax year 2006 and thereafter, is the base | 4 |
| homestead value.
| 5 |
| For any tax year for which the assessor determines or | 6 |
| adjusts an initial
value and
hence a base homestead value under | 7 |
| this subsection (c), the initial value shall
be subject
to | 8 |
| review by the same procedures applicable to assessed values | 9 |
| established
under this
Code for that tax year.
| 10 |
| (d) The base homestead value shall remain constant, except | 11 |
| that the assessor
may
revise it under the following | 12 |
| circumstances:
| 13 |
| (1) If the equalized assessed value of a homestead | 14 |
| property for the current
tax year is less than the previous | 15 |
| base homestead value for that property, then the
current | 16 |
| equalized assessed value (provided it is not based on a | 17 |
| reduced assessed
value resulting from a temporary | 18 |
| irregularity in the property) shall become the
base | 19 |
| homestead value in subsequent tax years.
| 20 |
| (2) For any year in which new buildings, structures, or | 21 |
| other
improvements are constructed on the homestead | 22 |
| property that would increase its
assessed value, the | 23 |
| assessor shall adjust the base homestead value as provided | 24 |
| in
subsection (c) of this Section with due regard to the | 25 |
| value added by the new
improvements. | 26 |
| (3) If the property is sold or ownership is otherwise |
|
|
|
09500SB0013sam001 |
- 15 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| transferred, the base homestead value of the property shall | 2 |
| be adjusted as provided in subdivision (b)(3)(B). This item | 3 |
| (3) does not apply to sales or transfers between spouses or | 4 |
| between a parent and a child.
| 5 |
| (4) the recalculation required in Cook County under | 6 |
| subdivision (b)(3)(A-5).
| 7 |
| (e) The amount of the exemption under this Section is the | 8 |
| equalized assessed
value of the homestead property for the | 9 |
| current tax year, minus the adjusted homestead
value, with the | 10 |
| following exceptions: | 11 |
| (1) In Cook County, the
The exemption under this | 12 |
| Section shall not exceed $20,000 for any taxable year | 13 |
| through tax year: | 14 |
| (i) 2005, if the general assessment year for the
| 15 |
| property is 2003; | 16 |
| (ii) 2006, if the general assessment year for the
| 17 |
| property is 2004; or | 18 |
| (iii) 2007, if the general assessment year for the
| 19 |
| property is 2005. | 20 |
| Thereafter, in Cook County, the exemption under this | 21 |
| Section shall not exceed $60,000 for any taxable year. | 22 |
| (1.5) For all tax years in all other counties other | 23 |
| than Cook County, the exemption under this Section shall | 24 |
| not exceed $60,000 for any taxable year . | 25 |
| (2) In the case of homestead property that also | 26 |
| qualifies for
the exemption under Section 15-172, the |
|
|
|
09500SB0013sam001 |
- 16 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| property is entitled to the exemption under
this Section, | 2 |
| limited to the amount of (i) $4,500 in Cook County or | 3 |
| $3,500 in all other counties in tax year 2003 or (ii) | 4 |
| $5,000 in all counties in tax year 2004 and thereafter.
| 5 |
| (f) In the case of an apartment building owned and operated | 6 |
| as a cooperative, or
as a life care facility, that contains | 7 |
| residential units that qualify as homestead property
under this | 8 |
| Section, the maximum cumulative exemption amount attributed to | 9 |
| the entire
building or facility shall not exceed the sum of the | 10 |
| exemptions calculated for each
qualified residential unit. The | 11 |
| cooperative association, management firm, or other person
or | 12 |
| entity that manages or controls the cooperative apartment | 13 |
| building or life care facility
shall credit the exemption | 14 |
| attributable to each residential unit only to the apportioned | 15 |
| tax
liability of the owner or other person responsible for | 16 |
| payment of taxes as to that unit.
Any person who willfully | 17 |
| refuses to so credit the exemption is guilty of a Class B
| 18 |
| misdemeanor.
| 19 |
| (g) When married persons maintain separate residences, the | 20 |
| exemption provided
under this Section shall be claimed by only | 21 |
| one such person and for only one residence.
| 22 |
| (h) In the event of a sale or other transfer in ownership | 23 |
| of the homestead property, the exemption under this
Section | 24 |
| shall remain in effect for the remainder of the tax year in | 25 |
| which the sale or transfer occurs, but (other than for sales or | 26 |
| transfers between spouses or between a parent and a child) |
|
|
|
09500SB0013sam001 |
- 17 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| shall be calculated using the new base homestead value as | 2 |
| provided in subdivision (b)(3)(B).
The assessor may require the | 3 |
| new owner of the property to apply for the exemption in the
| 4 |
| following year.
| 5 |
| (i) The assessor may determine whether property qualifies | 6 |
| as a homestead under
this Section by application, visual | 7 |
| inspection, questionnaire, or other
reasonable methods.
Each | 8 |
| year, at the time the assessment books are certified to the | 9 |
| county clerk
by the board
of review, the assessor shall furnish | 10 |
| to the county clerk a list of the
properties qualified
for the | 11 |
| homestead exemption under this Section. The list shall note the | 12 |
| base
homestead
value of each property to be used in the | 13 |
| calculation of the exemption for the
current tax
year.
| 14 |
| (j) In counties with 3,000,000 or more inhabitants, the | 15 |
| provisions of this Section apply as follows:
| 16 |
| (1) If the general assessment year for the property is | 17 |
| 2003, this Section
applies for assessment years 2003, 2004, | 18 |
| and 2005 , 2006, 2007, and 2008 .
Thereafter, the provisions | 19 |
| of Section 15-175 apply.
| 20 |
| (2) If the general assessment year for the property is | 21 |
| 2004, this Section
applies for assessment years 2004, 2005, | 22 |
| and 2006 , 2007, 2008, and 2009 .
Thereafter, the provisions | 23 |
| of Section 15-175 apply.
| 24 |
| (3) If the general assessment year for the property is | 25 |
| 2005, this Section
applies for assessment years 2005, 2006, | 26 |
| and 2007 , 2008, 2009, and 2010 .
Thereafter, the provisions |
|
|
|
09500SB0013sam001 |
- 18 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| of Section 15-175 apply. | 2 |
| In counties with less than 3,000,000 inhabitants, this | 3 |
| Section applies for assessment years (i) 2006, 2007, and 2008, | 4 |
| and 2009 if tax year 2005
2003, 2004, and 2005 if 2002 is the | 5 |
| designated base year or (ii) 2007, 2008, 2009, and 2010 if tax | 6 |
| year 2006
2004, 2005, and 2006 if 2003 is the designated base | 7 |
| year. Thereafter, the provisions of Section 15-175 apply.
| 8 |
| (k) To be subject to the provisions of this Section in lieu | 9 |
| of Section 15-175, a county must adopt an ordinance to subject | 10 |
| itself to the provisions of this Section within 6 months after | 11 |
| the effective date of this amendatory Act of the 95th General | 12 |
| Assembly
93rd General Assembly . In a county other than Cook | 13 |
| County, the ordinance must designate either tax year 2005
2002
| 14 |
| or tax year 2006
2003
as the base year.
| 15 |
| (l) Notwithstanding Sections 6 and 8 of the State Mandates | 16 |
| Act, no
reimbursement
by the State is required for the | 17 |
| implementation of any mandate created by this
Section.
| 18 |
| (Source: P.A. 93-715, eff. 7-12-04.) | 19 |
| Section 90. The State Mandates Act is amended by adding | 20 |
| Section 8.31 as follows: | 21 |
| (30 ILCS 805/8.31 new) | 22 |
| Sec. 8.31. Exempt mandate. Notwithstanding Sections 6 and 8 | 23 |
| of this Act, no reimbursement by the State is required for the | 24 |
| implementation of any mandate created by this amendatory Act of |
|
|
|
09500SB0013sam001 |
- 19 - |
LRB095 07225 BDD 31069 a |
|
| 1 |
| the 95th General Assembly.
| 2 |
| Section 99. Effective date. This Act takes effect upon | 3 |
| becoming law.".
|
|