Full Text of HB3602 097th General Assembly
HB3602 97TH GENERAL ASSEMBLY |
| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012 HB3602 Introduced 2/24/2011, by Rep. Harry Osterman SYNOPSIS AS INTRODUCED: |
| 35 ILCS 200/15-176 | | 35 ILCS 200/15-177 | |
| Amends the Property Tax Code. In a Section concerning the alternative general homestead exemption, provides that the maximum amount of the exemption is $40,000 for taxable year 2011 and thereafter. Provides that the alternative general homestead exemption applies on a permanent basis. In a Section concerning the long-time occupant homestead exemption, expands the definition of "adjusted homestead value". Beginning with taxable year 2011 and thereafter, "adjusted homestead value" means a property's base homestead value increased by 7% for each taxable year after the base year through and including the current tax year for qualified taxpayers with a household income of $100,000 or less. Makes other changes. Effective immediately.
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| | FISCAL NOTE ACT MAY APPLY | | HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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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 | | Sections 15-176 and 15-177 as follows: | 6 | | (35 ILCS 200/15-176) | 7 | | Sec. 15-176. Alternative general homestead exemption. | 8 | | (a) For the assessment years as determined under subsection | 9 | | (j), in any county that has elected, by an ordinance in | 10 | | accordance with subsection (k), to be subject to the provisions | 11 | | of this Section in lieu of the provisions of Section 15-175, | 12 | | homestead property is
entitled to
an annual homestead exemption | 13 | | equal to a reduction in the property's equalized
assessed
value | 14 | | calculated as provided in this Section. | 15 | | (b) As used in this Section: | 16 | | (1) "Assessor" means the supervisor of assessments or | 17 | | the chief county assessment officer of each county. | 18 | | (2) "Adjusted homestead value" means the lesser of the | 19 | | following values: | 20 | | (A) The property's base homestead value increased | 21 | | by 7% for each
tax year after the base year through and | 22 | | including the current tax year, or, if the property is | 23 | | sold or ownership is otherwise transferred, the |
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| 1 | | property's base homestead value increased by 7% for | 2 | | each tax year after the year of the sale or transfer | 3 | | through and including the current tax year. The | 4 | | increase by 7% each year is an increase by 7% over the | 5 | | prior year. | 6 | | (B) The property's equalized assessed value for | 7 | | the current tax
year minus: (i) $4,500 in Cook County | 8 | | or $3,500 in all other counties in tax year 2003;
(ii) | 9 | | $5,000 in all counties in tax years 2004 and 2005; and | 10 | | (iii) the lesser of the amount of the general homestead | 11 | | exemption under Section 15-175 or an amount equal to | 12 | | the increase in the equalized assessed value for the | 13 | | current tax year above the equalized assessed value for | 14 | | 1977 in tax year 2006 and thereafter. | 15 | | (3) "Base homestead value". | 16 | | (A) Except as provided in subdivision (b)(3)(A-5) | 17 | | or (b)(3)(B), "base homestead value" means the | 18 | | equalized assessed value of the property for the base | 19 | | year
prior to exemptions, minus (i) $4,500 in Cook | 20 | | County or $3,500 in all other counties in tax year | 21 | | 2003, (ii) $5,000 in all counties in tax years
2004 and | 22 | | 2005, or (iii) the lesser of the amount of the general | 23 | | homestead exemption under Section 15-175 or an amount | 24 | | equal to the increase in the equalized assessed value | 25 | | for the current tax year above the equalized assessed | 26 | | value for 1977 in tax year 2006 and
thereafter, |
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| 1 | | provided that it was assessed for that
year as | 2 | | residential property qualified for any of the | 3 | | homestead exemptions
under Sections 15-170 through | 4 | | 15-175 of this Code, then in force, and
further | 5 | | provided that the property's assessment was not based | 6 | | on a reduced
assessed value resulting from a temporary | 7 | | irregularity in the property for
that year. Except as | 8 | | provided in subdivision (b)(3)(B), if the property did | 9 | | not have a
residential
equalized assessed value for the | 10 | | base year, then "base homestead value" means the base
| 11 | | homestead value established by the assessor under | 12 | | subsection (c). | 13 | | (A-5) On or before September 1, 2007, in Cook | 14 | | County, the base homestead value, as set forth under | 15 | | subdivision (b)(3)(A) and except as provided under | 16 | | subdivision (b) (3) (B), must be recalculated as the | 17 | | equalized assessed value of the property for the base | 18 | | year, prior to exemptions, minus: | 19 | | (1) if the general assessment year for the | 20 | | property was 2003, the lesser of (i) $4,500 or (ii) | 21 | | the amount equal to the increase in equalized | 22 | | assessed value for the 2002 tax year above the | 23 | | equalized assessed value for 1977; | 24 | | (2) if the general assessment year for the | 25 | | property was 2004, the lesser of (i) $4,500 or (ii) | 26 | | the amount equal to the increase in equalized |
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| 1 | | assessed value for the 2003 tax year above the | 2 | | equalized assessed value for 1977; | 3 | | (3) if the general assessment year for the | 4 | | property was 2005, the lesser of (i) $5,000 or (ii) | 5 | | the amount equal to the increase in equalized | 6 | | assessed value for the 2004 tax year above the | 7 | | equalized assessed value for 1977.
| 8 | | (B) If the property is sold or ownership is | 9 | | otherwise transferred, other than sales or transfers | 10 | | between spouses or between a parent and a child, "base | 11 | | homestead value" means the equalized assessed value of | 12 | | the property at the time of the sale or transfer prior | 13 | | to exemptions, minus: (i) $4,500 in Cook County or | 14 | | $3,500 in all other counties in tax year 2003; (ii) | 15 | | $5,000 in all counties in tax years 2004 and 2005; and | 16 | | (iii) the lesser of the amount of the general homestead | 17 | | exemption under Section 15-175 or an amount equal to | 18 | | the increase in the equalized assessed value for the | 19 | | current tax year above the equalized assessed value for | 20 | | 1977 in tax year 2006 and thereafter, provided that it | 21 | | was assessed as residential property qualified for any | 22 | | of the homestead exemptions
under Sections 15-170 | 23 | | through 15-175 of this Code, then in force, and
further | 24 | | provided that the property's assessment was not based | 25 | | on a reduced
assessed value resulting from a temporary | 26 | | irregularity in the property. |
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| 1 | | (3.5) "Base year" means (i) tax year 2002 in Cook | 2 | | County or (ii) tax year 2008 or 2009 in all other counties | 3 | | in accordance with the designation made by the county as | 4 | | provided in subsection (k).
| 5 | | (4) "Current tax year" means the tax year for which the | 6 | | exemption under
this Section is being applied. | 7 | | (5) "Equalized assessed value" means the property's | 8 | | assessed value as
equalized by the Department. | 9 | | (6) "Homestead" or "homestead property" means: | 10 | | (A) Residential property that as of January 1 of | 11 | | the tax year is
occupied by its owner or owners as his, | 12 | | her, or their principal dwelling
place, or that is a | 13 | | leasehold interest on which a single family residence | 14 | | is
situated, that is occupied as a residence by a | 15 | | person who has a legal or
equitable interest therein | 16 | | evidenced by a written instrument, as an owner
or as a | 17 | | lessee, and on which the person is liable for the | 18 | | payment of
property taxes. Residential units in an | 19 | | apartment building owned and
operated as a | 20 | | cooperative, or as a life care facility, which are | 21 | | occupied by
persons who hold a legal or equitable | 22 | | interest in the cooperative apartment
building or life | 23 | | care facility as owners or lessees, and who are liable | 24 | | by
contract for the payment of property taxes, shall be | 25 | | included within this
definition of homestead property. | 26 | | (B) A homestead includes the dwelling place, |
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| 1 | | appurtenant
structures, and so much of the surrounding | 2 | | land constituting the parcel on
which the dwelling | 3 | | place is situated as is used for residential purposes. | 4 | | If
the assessor has established a specific legal | 5 | | description for a portion of
property constituting the | 6 | | homestead, then the homestead shall be limited to
the | 7 | | property within that description. | 8 | | (7) "Life care facility" means a facility as defined in | 9 | | Section 2 of the
Life
Care Facilities Act. | 10 | | (c) If the property did not have a residential equalized | 11 | | assessed value for
the base year as provided in subdivision | 12 | | (b)(3)(A) of this Section, then the assessor
shall first | 13 | | determine an initial value for the property by comparison with
| 14 | | assessed values for the base year of other properties having | 15 | | physical and
economic characteristics similar to those of the | 16 | | subject property, so that the
initial value is uniform in | 17 | | relation to assessed values of those other
properties for the | 18 | | base year. The product of the initial value multiplied by
the | 19 | | equalized factor for the base year for homestead properties in | 20 | | that county, less: (i) $4,500 in Cook County or $3,500 in all | 21 | | other counties in tax years 2003; (ii) $5,000 in all counties | 22 | | in tax year 2004 and 2005; and (iii) the lesser of the amount | 23 | | of the general homestead exemption under Section 15-175 or an | 24 | | amount equal to the increase in the equalized assessed value | 25 | | for the current tax year above the equalized assessed value for | 26 | | 1977 in tax year 2006 and thereafter, is the base homestead |
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| 1 | | value. | 2 | | For any tax year for which the assessor determines or | 3 | | adjusts an initial
value and
hence a base homestead value under | 4 | | this subsection (c), the initial value shall
be subject
to | 5 | | review by the same procedures applicable to assessed values | 6 | | established
under this
Code for that tax year. | 7 | | (d) The base homestead value shall remain constant, except | 8 | | that the assessor
may
revise it under the following | 9 | | circumstances: | 10 | | (1) If the equalized assessed value of a homestead | 11 | | property for the current
tax year is less than the previous | 12 | | base homestead value for that property, then the
current | 13 | | equalized assessed value (provided it is not based on a | 14 | | reduced assessed
value resulting from a temporary | 15 | | irregularity in the property) shall become the
base | 16 | | homestead value in subsequent tax years. | 17 | | (2) For any year in which new buildings, structures, or | 18 | | other
improvements are constructed on the homestead | 19 | | property that would increase its
assessed value, the | 20 | | assessor shall adjust the base homestead value as provided | 21 | | in
subsection (c) of this Section with due regard to the | 22 | | value added by the new
improvements. | 23 | | (3) If the property is sold or ownership is otherwise | 24 | | transferred, the base homestead value of the property shall | 25 | | be adjusted as provided in subdivision (b)(3)(B). This item | 26 | | (3) does not apply to sales or transfers between spouses or |
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| 1 | | between a parent and a child. | 2 | | (4) the recalculation required in Cook County under | 3 | | subdivision (b)(3)(A-5).
| 4 | | (e) The amount of the exemption under this Section is the | 5 | | equalized assessed
value of the homestead property for the | 6 | | current tax year, minus the adjusted homestead
value, with the | 7 | | following exceptions: | 8 | | (1) In Cook County, the exemption under this Section | 9 | | shall not exceed $20,000 for any taxable year through tax | 10 | | year: | 11 | | (i) 2005, if the general assessment year for the
| 12 | | property is 2003; | 13 | | (ii) 2006, if the general assessment year for the
| 14 | | property is 2004; or | 15 | | (iii) 2007, if the general assessment year for the
| 16 | | property is 2005. | 17 | | (1.1) Thereafter, in Cook County, and in all other | 18 | | counties, the exemption is as follows: | 19 | | (i) if the general assessment year for the property | 20 | | is 2006, then the exemption may not exceed: $33,000 for | 21 | | taxable year 2006; $26,000 for taxable year 2007; | 22 | | $20,000 for taxable years 2008 and 2009; $16,000 for | 23 | | taxable year 2010; and $40,000 $12,000 for taxable year | 24 | | 2011 and thereafter ; | 25 | | (ii) if the general assessment year for the | 26 | | property is 2007, then the exemption may not exceed: |
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| 1 | | $33,000 for taxable year 2007; $26,000 for taxable year | 2 | | 2008; $20,000 for taxable years 2009 and 2010; and | 3 | | $40,000 $16,000 for taxable year 2011 and thereafter ; | 4 | | and $12,000 for taxable year 2012; and | 5 | | (iii) if the general assessment year for the | 6 | | property is 2008, then the exemption may not exceed: | 7 | | $33,000 for taxable year 2008; $26,000 for taxable year | 8 | | 2009; $20,000 for taxable year years 2010 ; and $40,000 | 9 | | for taxable year 2011 and thereafter ; $16,000 for | 10 | | taxable year 2012; and $12,000 for taxable year 2013 . | 11 | | (1.5) In Cook County, for the 2006 taxable year only, the | 12 | | maximum amount of the exemption set forth under subsection | 13 | | (e)(1.1)(i) of this Section may be increased: (i) by $7,000 if | 14 | | the equalized assessed value of the property in that taxable | 15 | | year exceeds the equalized assessed value of that property in | 16 | | 2002 by 100% or more; or (ii) by $2,000 if the equalized | 17 | | assessed value of the property in that taxable year exceeds the | 18 | | equalized assessed value of that property in 2002 by more than | 19 | | 80% but less than 100%.
| 20 | | (2) In the case of homestead property that also | 21 | | qualifies for
the exemption under Section 15-172, the | 22 | | property is entitled to the exemption under
this Section, | 23 | | limited to the amount of (i) $4,500 in Cook County or | 24 | | $3,500 in all other counties in tax year 2003, (ii) $5,000 | 25 | | in all counties in tax years 2004 and 2005, or (iii) the | 26 | | lesser of the amount of the general homestead exemption |
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| 1 | | under Section 15-175 or an amount equal to the increase in | 2 | | the equalized assessed value for the current tax year above | 3 | | the equalized assessed value for 1977 in tax year 2006 and | 4 | | 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 and be | 25 | | calculated using the same base homestead value in which the | 26 | | sale or transfer occurs, but (other than for sales or transfers |
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| 1 | | between spouses or between a parent and a child) shall be | 2 | | calculated for any subsequent tax year using the new base | 3 | | homestead value as provided in subdivision (b)(3)(B).
The | 4 | | assessor may require the new owner of the property to apply for | 5 | | the exemption in the
following year. | 6 | | (i) The assessor may determine whether property qualifies | 7 | | as a homestead under
this Section by application, visual | 8 | | inspection, questionnaire, or other
reasonable methods.
Each | 9 | | year, at the time the assessment books are certified to the | 10 | | county clerk
by the board
of review, the assessor shall furnish | 11 | | to the county clerk a list of the
properties qualified
for the | 12 | | homestead exemption under this Section. The list shall note the | 13 | | base
homestead
value of each property to be used in the | 14 | | calculation of the exemption for the
current tax
year. | 15 | | (j) In counties with 3,000,000 or more inhabitants, the | 16 | | provisions of this Section apply as follows: | 17 | | (1) If the general assessment year for the property is | 18 | | 2003, this Section
applies for assessment years 2003 and | 19 | | thereafter through 2011.
Thereafter, the provisions of | 20 | | Section 15-175 apply . | 21 | | (2) If the general assessment year for the property is | 22 | | 2004, this Section
applies for assessment years 2004 and | 23 | | thereafter through 2012.
Thereafter, the provisions of | 24 | | Section 15-175 apply . | 25 | | (3) If the general assessment year for the property is | 26 | | 2005, this Section
applies for assessment years 2005 and |
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| 1 | | thereafter through 2013.
Thereafter, the provisions of | 2 | | Section 15-175 apply . | 3 | | In counties with less than 3,000,000 inhabitants, this | 4 | | Section applies for assessment years (i) 2009 , 2010, 2011, and | 5 | | thereafter 2012 if tax year 2008 is the designated base year or | 6 | | (ii) 2010 , 2011, 2012, and thereafter 2013 if tax year 2009 is | 7 | | the designated base year. Thereafter, the provisions of Section | 8 | | 15-175 apply. | 9 | | (k) To be subject to the provisions of this Section in lieu | 10 | | of Section 15-175, a county must adopt an ordinance to subject | 11 | | itself to the provisions of this Section within 6 months after | 12 | | the effective date of this amendatory Act of the 96th General | 13 | | Assembly. In a county other than Cook County, the ordinance | 14 | | must designate either tax year 2008
or tax year 2009
as the | 15 | | base year.
| 16 | | (l) Notwithstanding Sections 6 and 8 of the State Mandates | 17 | | Act, no
reimbursement
by the State is required for the | 18 | | implementation of any mandate created by this
Section. | 19 | | (Source: P.A. 95-644, eff. 10-12-07; 96-1418, eff. 8-2-10.) | 20 | | (35 ILCS 200/15-177) | 21 | | Sec. 15-177. The long-time occupant homestead exemption. | 22 | | (a) If the county has elected, under Section 15-176, to be | 23 | | subject to the provisions of the alternative general homestead | 24 | | exemption, then, for taxable years 2007 and thereafter, | 25 | | regardless of whether the exemption under Section 15-176 |
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| 1 | | applies, qualified homestead property is
entitled to
an annual | 2 | | homestead exemption equal to a reduction in the property's | 3 | | equalized
assessed
value calculated as provided in this | 4 | | Section. | 5 | | (b) As used in this Section: | 6 | | "Adjusted homestead value" means the lesser of
the | 7 | | following values: | 8 | | (1) The property's base homestead value increased
by: | 9 | | (i) 10% for each taxable year after the base year through | 10 | | and including the current tax year for qualified taxpayers | 11 | | with a household income of more than $75,000 but not | 12 | | exceeding $100,000; or (ii) 7% for each taxable year after | 13 | | the base year through and including the current tax year | 14 | | for qualified taxpayers with a household income of $75,000 | 15 | | or less. The increase each year is an increase over the | 16 | | prior year; or | 17 | | (1.5) Beginning with taxable year 2011 and thereafter, | 18 | | the property's base homestead value increased by 7% for | 19 | | each taxable year after the base year through and including | 20 | | the current tax year for qualified taxpayers with a | 21 | | household income of $100,000 or less. The increase each | 22 | | year is an increase over the prior year; or | 23 | | (2) The property's equalized assessed value for
the | 24 | | current tax year minus the general homestead deduction. | 25 | | "Base homestead value" means: | 26 | | (1) if the property did not have an adjusted homestead |
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| 1 | | value under Section 15-176 for the base year, then an | 2 | | amount equal to the equalized assessed value of the | 3 | | property for the base year prior to exemptions, minus the | 4 | | general homestead deduction, provided that the property's | 5 | | assessment was not based on a reduced assessed value | 6 | | resulting from a temporary irregularity in the property for | 7 | | that year; or | 8 | | (2) if the property had an adjusted homestead value | 9 | | under Section 15-176 for the base year, then an amount | 10 | | equal to the adjusted homestead value of the property under | 11 | | Section 15-176 for the base year. | 12 | | "Base year" means the taxable year prior to the taxable | 13 | | year in which the taxpayer first qualifies for the exemption | 14 | | under this Section. | 15 | | "Current taxable year" means the taxable year for which
the | 16 | | exemption under this Section is being applied. | 17 | | "Equalized assessed value" means the property's
assessed | 18 | | value as equalized by the Department. | 19 | | "Homestead" or "homestead property" means residential | 20 | | property that as of January 1 of
the tax year is occupied by a | 21 | | qualified taxpayer as his or her principal dwelling place, or | 22 | | that is a leasehold interest on which a single family residence | 23 | | is situated, that is occupied as a residence by a qualified | 24 | | taxpayer who has a legal or equitable interest therein | 25 | | evidenced by a written instrument, as an owner or as a lessee, | 26 | | and on which the person is liable for the payment of property |
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| 1 | | taxes. Residential units in an apartment building owned and | 2 | | operated as a cooperative, or as a life care facility, which | 3 | | are occupied by persons who hold a legal or equitable interest | 4 | | in the cooperative apartment building or life care facility as | 5 | | owners or lessees, and who are liable by contract for the | 6 | | payment of property taxes, are included within this definition | 7 | | of homestead property. A homestead includes the dwelling place,
| 8 | | appurtenant structures, and so much of the surrounding land | 9 | | constituting the parcel on which the dwelling place is situated | 10 | | as is used for residential purposes. If the assessor has | 11 | | established a specific legal description for a portion of | 12 | | property constituting the homestead, then the homestead is | 13 | | limited to the property within that description. | 14 | | "Household income" has the meaning set forth under Section | 15 | | 15-172 of this Code.
| 16 | | "General homestead deduction" means the amount of the | 17 | | general homestead exemption under Section 15-175.
| 18 | | "Life care facility" means a facility defined
in Section 2 | 19 | | of the Life Care Facilities Act. | 20 | | "Qualified homestead property" means homestead property | 21 | | owned by a qualified taxpayer.
| 22 | | "Qualified taxpayer" means any individual: | 23 | | (1) who, for at least 10 continuous years as of January | 24 | | 1 of the taxable year, has occupied the same homestead | 25 | | property as a principal residence and domicile or who, for | 26 | | at least 5 continuous years as of January 1 of the taxable |
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| 1 | | year, has occupied the same homestead property as a | 2 | | principal residence and domicile if that person received | 3 | | assistance in the acquisition of the property as part of a | 4 | | government or nonprofit housing program; and | 5 | | (2) who has a household income of $100,000 or less.
| 6 | | (c) The base homestead value must remain constant, except | 7 | | that the assessor may revise it under any of the following | 8 | | circumstances: | 9 | | (1) If the equalized assessed value of a homestead
| 10 | | property for the current tax year is less than the previous | 11 | | base homestead value for that property, then the current | 12 | | equalized assessed value (provided it is not based on a | 13 | | reduced assessed value resulting from a temporary | 14 | | irregularity in the property) becomes the base homestead | 15 | | value in subsequent tax years. | 16 | | (2) For any year in which new buildings, structures,
or | 17 | | other improvements are constructed on the homestead | 18 | | property that would increase its assessed value, the | 19 | | assessor shall adjust the base homestead value with due | 20 | | regard to the value added by the new improvements. | 21 | | (d) The amount of the exemption under this Section is the | 22 | | greater of: (i) the equalized assessed value of the homestead | 23 | | property for the current tax year minus the adjusted homestead | 24 | | value; or (ii) the general homestead deduction. | 25 | | (e) In the case of an apartment building owned and operated | 26 | | as a cooperative, or as a life care facility, that contains |
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| 1 | | residential units that qualify as homestead property of a | 2 | | qualified taxpayer under this Section, the maximum cumulative | 3 | | exemption amount attributed to the entire building or facility | 4 | | shall not exceed the sum of the exemptions calculated for each | 5 | | unit that is a qualified homestead property. The cooperative | 6 | | association, management firm, or other person or entity that | 7 | | manages or controls the cooperative apartment building or life | 8 | | care facility shall credit the exemption attributable to each | 9 | | residential unit only to the apportioned tax liability of the | 10 | | qualified taxpayer as to that unit. Any person who willfully | 11 | | refuses to so credit the exemption is guilty of a Class B | 12 | | misdemeanor. | 13 | | (f) When married persons maintain separate residences, the | 14 | | exemption provided under this Section may be claimed by only | 15 | | one such person and for only one residence. No person who | 16 | | receives an exemption under Section 15-172 of this Code may | 17 | | receive an exemption under this Section. No person who receives | 18 | | an exemption under this Section may receive an exemption under | 19 | | Section 15-175 or 15-176 of this Code. | 20 | | (g) In the event of a sale or other transfer in ownership | 21 | | of the homestead property between spouses or between a parent | 22 | | and a child, the exemption under this Section remains in effect | 23 | | if the new owner has a household income of $100,000 or less. | 24 | | (h) In the event of a sale or other transfer in ownership | 25 | | of the homestead property other than subsection (g) of this | 26 | | Section, the exemption under this Section shall remain in |
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| 1 | | effect for the remainder of the tax year and be calculated | 2 | | using the same base homestead value in which the sale or | 3 | | transfer occurs.
| 4 | | (i) To receive the exemption, a person must submit an | 5 | | application to the county assessor during the period specified | 6 | | by the county assessor. | 7 | | The county assessor shall annually give notice of the | 8 | | application period by mail or by publication. | 9 | | The taxpayer must submit, with the application, an | 10 | | affidavit of the taxpayer's total household income, marital | 11 | | status (and if married the name and address of the applicant's | 12 | | spouse, if known), and principal dwelling place of members of | 13 | | the household on January 1 of the taxable year. The Department | 14 | | shall establish, by rule, a method for verifying the accuracy | 15 | | of affidavits filed by applicants under this Section, and the | 16 | | Chief County Assessment Officer may conduct audits of any | 17 | | taxpayer claiming an exemption under this Section to verify | 18 | | that the taxpayer is eligible to receive the exemption. Each | 19 | | application shall contain or be verified by a written | 20 | | declaration that it is made under the penalties of perjury. A | 21 | | taxpayer's signing a fraudulent application under this Act is | 22 | | perjury, as defined in Section 32-2 of the Criminal Code of | 23 | | 1961. The applications shall be clearly marked as applications | 24 | | for the Long-time Occupant Homestead Exemption and must contain | 25 | | a notice that any taxpayer who receives the exemption is | 26 | | subject to an audit by the Chief County Assessment Officer. |
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| 1 | | (j) Notwithstanding Sections 6 and 8 of the State Mandates | 2 | | Act, no reimbursement by the State is required for the | 3 | | implementation of any mandate created by this Section.
| 4 | | (Source: P.A. 95-644, eff. 10-12-07.)
| 5 | | Section 99. Effective date. This Act takes effect upon | 6 | | becoming law.
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