(35 ILCS 200/20-178)
Sec. 20-178. Certificate of error; refund; interest. When the county
collector
makes any refunds
due on certificates of error issued under Sections 14-15 through 14-25
that have been either
certified or adjudicated, the county collector shall pay the taxpayer interest
on the amount of the refund
at the rate of 0.5% per month.
No interest shall be due under this Section for any time prior to 60 days
after
the effective date of
this amendatory Act of the 91st General Assembly. For certificates of error
issued prior to
the
effective date of this amendatory
Act of the 91st General Assembly, the county collector shall
pay the taxpayer interest from 60 days after the effective date of this
amendatory Act of the 91st General Assembly
until the date the refund is
paid. For certificates of error issued on or after the effective date of this
amendatory Act of the 91st General Assembly,
interest shall be paid from 60
days after the certificate of error is issued by the chief county assessment
officer to the
date the refund is made.
To cover the cost of interest, the county collector shall proportionately
reduce the distribution of
taxes collected for each taxing district in which the property is situated.
This Section shall not apply to any certificate of error granting a homestead
exemption under
Section 15-170, 15-172,
15-175, 15-176, or 15-177.
(Source: P.A. 95-644, eff. 10-12-07.)
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