Full Text of HB3608 96th General Assembly
HB3608 96TH GENERAL ASSEMBLY
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96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010 HB3608
Introduced 2/24/2009, by Rep. Robert W. Pritchard SYNOPSIS AS INTRODUCED: |
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Amends the Property Tax Code. In a Section concerning the platting and subdividing of property into lots in counties with less than 3,000,000 inhabitants, provides that, prior to the payment for sale of a habitable structure or commercial building, the assessed valuation of platted and subdivided property that is not used for business, commercial, or residential
purposes shall remain the same as if used for farm or vacant purposes (now, the assessed value is determined each year based on the estimated price the property would bring at a fair voluntary sale
for use by the buyer for the same purposes for which the property was used when
last assessed prior to its platting). Makes other changes. Effective immediately.
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A BILL FOR
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HB3608 |
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LRB096 11619 HLH 22148 b |
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| AN ACT concerning revenue.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Property Tax Code is amended by changing | 5 |
| Section 10-30 as follows:
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| (35 ILCS 200/10-30)
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| Sec. 10-30. Subdivisions; counties of less than 3,000,000.
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| (a) In counties with less than 3,000,000 inhabitants, the | 9 |
| platting and
subdivision of property into separate lots and the | 10 |
| development of the
subdivided property with streets, | 11 |
| sidewalks, curbs, gutters, sewer, water and
utility lines shall | 12 |
| not increase the assessed valuation of all or any part of
the | 13 |
| property, if:
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| (1) The property is platted and subdivided | 15 |
| substantially in accordance with the Plat
Act;
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| (2) The platting occurs after January 1, 1978;
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| (3) At the time of initial platting the entire property | 18 |
| is in excess of 5 acres; and
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| (4) At the time of initial platting or replatting the | 20 |
| property is vacant or used as a farm as
defined in Section | 21 |
| 1-60.
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| (b) Except as provided in subsection (c) of this Section, | 23 |
| the assessed
valuation of property so platted and subdivided |
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HB3608 |
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LRB096 11619 HLH 22148 b |
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| shall remain the same as if used for farm or vacant purposes. | 2 |
| be determined each year
based on the estimated price the | 3 |
| property would bring at a fair voluntary sale
for use by the | 4 |
| buyer for the same purposes for which the property was used | 5 |
| when
last assessed prior to its platting.
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| (c) Upon payment for sale completion of a habitable | 7 |
| structure or commercial building on any lot of subdivided
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| property, or upon the use of any lot, either alone or in | 9 |
| conjunction
with any contiguous property, for any business, | 10 |
| commercial or residential
purpose , or upon the initial sale of | 11 |
| any platted lot, including a platted
lot which is vacant : (i) | 12 |
| the provisions of subsection (b) of this Section
shall no | 13 |
| longer apply in determining the assessed valuation of the lot, | 14 |
| (ii)
each lot shall be assessed without regard to any provision | 15 |
| of this Section, and
(iii) the assessed valuation of the | 16 |
| remaining property, when next determined,
shall be reduced | 17 |
| proportionately to reflect the exclusion of the property that
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| no longer qualifies for valuation under this Section. Holding | 19 |
| or offering a
platted lot for initial sale shall not constitute | 20 |
| a use of the lot for
business, commercial or residential | 21 |
| purposes unless a habitable structure is
situated on the lot or | 22 |
| unless the lot is otherwise used for a business,
commercial or | 23 |
| residential purpose. The replatting of a subdivision or portion | 24 |
| of a subdivision shall not disqualify the replatted lots from | 25 |
| the provisions of subsection (b).
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| (Source: P.A. 95-135, eff. 1-1-08.)
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HB3608 |
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LRB096 11619 HLH 22148 b |
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| Section 99. Effective date. This Act takes effect upon | 2 |
| becoming law.
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