Full Text of SB3607 97th General Assembly
SB3607enr 97TH GENERAL ASSEMBLY |
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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 16-55 as follows:
| 6 | | (35 ILCS 200/16-55)
| 7 | | Sec. 16-55. Complaints. On written complaint that any | 8 | | property is
overassessed or underassessed, the board shall | 9 | | review the assessment, and
correct it, as appears to be just, | 10 | | but in no case shall the property be
assessed at a higher | 11 | | percentage of fair cash value than other property in the
| 12 | | assessment district prior to equalization by the board or the | 13 | | Department. The board shall include compulsory sales in | 14 | | reviewing and correcting assessments, including, but not | 15 | | limited to, those compulsory sales submitted by the taxpayer, | 16 | | if the board determines that those sales reflect the same | 17 | | property characteristics and condition as those originally | 18 | | used to make the assessment. The board shall also consider | 19 | | whether the compulsory sale would otherwise be considered an | 20 | | arm's length transaction. A
complaint to affect the assessment | 21 | | for the current year shall be filed on or
before the 10th day | 22 | | of August in counties with less than 150,000 inhabitants
and on | 23 | | or before the 10th day of September in counties with 150,000 or |
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| 1 | | more but
less than 3,000,000 inhabitants, except if the | 2 | | assessment books containing the
assessment complained of are | 3 | | not filed with the board of review by the 10th day
of July in a | 4 | | county with fewer than 150,000 inhabitants or by the 10th day | 5 | | of
August in a county with 150,000 or more but less than | 6 | | 3,000,000 inhabitants,
then the complaint shall be filed on or | 7 | | before 30 calendar days after the date
of publication of the | 8 | | assessment list under Section 12-10. The board may also,
at any | 9 | | time before its revision of the assessments is completed in | 10 | | every year,
increase, reduce or otherwise adjust the assessment | 11 | | of any property, making
changes in the valuation as may be | 12 | | just, and shall have full power over the
assessment of any | 13 | | person and may do anything in regard thereto that it may deem
| 14 | | necessary to make a just assessment, but the property shall not | 15 | | be assessed at
a higher percentage of fair cash value than the | 16 | | assessed valuation of other
property in the assessment district | 17 | | prior to equalization by the board or the
Department. No | 18 | | assessment shall be increased until the person to be affected
| 19 | | has been notified and given an opportunity to be heard, except | 20 | | as provided
below. Before making any reduction in assessments | 21 | | of its own motion, the board
of review shall give notice to the | 22 | | assessor or chief county assessment officer
who certified the | 23 | | assessment, and give the assessor or chief county assessment
| 24 | | officer an opportunity to be heard thereon. All complaints of | 25 | | errors in
assessments of property shall be in writing, and | 26 | | shall be filed by the
complaining party with the board of |
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| 1 | | review, in duplicate. The duplicate shall
be filed by the board | 2 | | of review with the assessor or chief county assessment
officer | 3 | | who certified the assessment. In all cases where a change in | 4 | | assessed
valuation of $100,000 or more is sought, the board of | 5 | | review shall also serve a
copy of the petition on all taxing | 6 | | districts as shown on the last available tax
bill at least 14 | 7 | | days prior to the hearing on the complaint. All taxing
| 8 | | districts shall have an opportunity to be heard on the | 9 | | complaint. Complaints
shall be classified by townships or | 10 | | taxing districts by the clerk of the board
of review. All | 11 | | classes of complaints shall be docketed numerically, each in | 12 | | its
own class, in the order in which they are presented, in | 13 | | books kept for that
purpose, which books shall be open to | 14 | | public inspection. Complaints shall be
considered by townships | 15 | | or taxing districts until all complaints have been
heard and | 16 | | passed upon by the board.
| 17 | | (Source: P.A. 96-1083, eff. 7-16-10.)
| 18 | | Section 99. Effective date. This Act takes effect upon | 19 | | becoming law.
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