(35 ILCS 200/10-130)
Farmland valuation; counties of 3,000,000 or more.
counties with more than 3,000,000 inhabitants, the equalized assessed value per
acre of farmland shall be the lesser of either 16% of the fair cash value of
the farmland estimated at the price it would bring at a fair, voluntary sale
for use by the buyer as a farm as defined in Section 1-60, or 90% of the
1983 average equalized assessed value per acre certified by the Department.
(Source: P.A. 86-954; 88-455.)