Full Text of HB5162 096th General Assembly
HB5162 96TH GENERAL ASSEMBLY
|
|
|
96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010 HB5162
Introduced 1/29/2010, by Rep. Sidney H. Mathias SYNOPSIS AS INTRODUCED: |
|
35 ILCS 200/9-155 |
|
35 ILCS 200/9-220 |
|
|
Amends the Property Tax Code. Provides that, beginning January 1, 2011, all property located in a county with 3,000,000 or more inhabitants shall be subject to general reassessment on an annual basis. Provides that all property located in a county with 3,000,000 or more inhabitants shall be assessed at 33 1/3% of the lesser of (i) its fair cash value or (ii) its average fair cash value for the 3 years immediately preceding the taxable year. Effective immediately.
|
| |
|
|
FISCAL NOTE ACT MAY APPLY | |
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
|
|
A BILL FOR
|
|
|
|
|
HB5162 |
|
LRB096 17047 HLH 32365 b |
|
| 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 9-155 and 9-220 as follows:
| 6 |
| (35 ILCS 200/9-155)
| 7 |
| Sec. 9-155. Valuation in general assessment years. On or | 8 |
| before June 1 in
each general assessment year in all counties | 9 |
| with less than 3,000,000
inhabitants, and as soon as he or she | 10 |
| reasonably can in each general assessment
year in counties with | 11 |
| 3,000,000 or more inhabitants, or if any such county is
divided | 12 |
| into assessment districts as provided in Sections 9-215 through | 13 |
| 9-225,
as soon as he or she reasonably can in each general | 14 |
| assessment year in those
districts, the assessor, in person or | 15 |
| by deputy, shall actually view and
determine as near as | 16 |
| practicable the value of each property listed for taxation
as | 17 |
| of January 1 of that year, or as provided in Section 9-180, and | 18 |
| assess the
property at 33 1/3% of its fair cash value, or in | 19 |
| accordance with Sections
10-110 through 10-140 and 10-170 | 20 |
| through 10-200, or in accordance with a county
ordinance | 21 |
| adopted under Section 4 of Article IX of the Constitution of
| 22 |
| Illinois. Notwithstanding any other provision of law, | 23 |
| beginning in taxable year 2011, all property located in a |
|
|
|
HB5162 |
- 2 - |
LRB096 17047 HLH 32365 b |
|
| 1 |
| county with 3,000,000 or more inhabitants shall be assessed at | 2 |
| 33 1/3% of the lesser of (i) its fair cash value or (ii) its | 3 |
| average fair cash value for the 3 years immediately preceding | 4 |
| the taxable year. The assessor or deputy shall set down, in the | 5 |
| books furnished for
that purpose the assessed valuation of | 6 |
| properties in one column, the assessed
value of improvements in | 7 |
| another, and the total valuation in a separate column.
| 8 |
| (Source: P.A. 86-1481; 87-1189; 88-455.)
| 9 |
| (35 ILCS 200/9-220)
| 10 |
| Sec. 9-220.
Division into assessment districts; assessment | 11 |
| years;
counties of 3,000,000 or more.
| 12 |
| (a) Notwithstanding any other provision in this
Code to the | 13 |
| contrary, until January 1, 1996,
the county board of a county | 14 |
| with 3,000,000 or more
inhabitants may by resolution divide the | 15 |
| county into any number of assessment
districts. If the county | 16 |
| is organized into townships, the assessment districts
shall | 17 |
| follow township lines. The assessment districts shall divide, | 18 |
| as near as
practicable, the work of assessing the property in | 19 |
| the county into equal parts
but neither the area nor the number | 20 |
| of parcels need be equal in the assessment
districts. The | 21 |
| resolution shall number the assessment districts and provide
| 22 |
| for a general reassessment of each district at regular | 23 |
| intervals determined by
the county board.
| 24 |
| (b) Beginning January 1, 1996 and until January 1, 2011 , in | 25 |
| counties with 3,000,000 or more
inhabitants, assessment |
|
|
|
HB5162 |
- 3 - |
LRB096 17047 HLH 32365 b |
|
| 1 |
| districts
shall be subject to general reassessment according to | 2 |
| the
following schedule:
| 3 |
| (1) The first assessment district shall be subject to | 4 |
| general reassessment
in 1997 and every 3 years thereafter.
| 5 |
| (2) The second assessment district shall be subject to | 6 |
| general
reassessment in 1998 and every 3 years thereafter.
| 7 |
| (3) The third assessment district shall be subject to | 8 |
| general reassessment
in 1996 and every 3 years thereafter.
| 9 |
| The boundaries of the 3 assessment districts are as | 10 |
| follows: (i) the first
assessment district shall be that | 11 |
| portion of the county located within the
boundaries of a | 12 |
| municipality with 1,000,000 or more inhabitants, (ii) the
| 13 |
| second assessment district shall be that portion of the county | 14 |
| that lies north
of State Route 64 (North
Avenue) and outside | 15 |
| the boundaries of a municipality with 1,000,000 or more
| 16 |
| inhabitants, and (iii) the third assessment district shall be | 17 |
| that portion of
the county that lies south of State Route 64 | 18 |
| (North Avenue) and outside the
boundaries of a
municipality | 19 |
| with 1,000,000 or more inhabitants.
| 20 |
| Notwithstanding any other provision of law, beginning | 21 |
| January 1, 2011, all property located in a county with | 22 |
| 3,000,000 or more inhabitants shall be subject to general | 23 |
| reassessment on an annual basis. | 24 |
| (Source: P.A. 88-455; 89-126, eff. 7-11-95.)
| 25 |
| Section 99. Effective date. This Act takes effect upon | 26 |
| becoming law.
|
|