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35 ILCS 200/10-155
(35 ILCS 200/10-155)
Sec. 10-155. Open space land; valuation. In all counties, in
addition to valuation as otherwise permitted by law, land which is used for
open space purposes and has been so used for the 3 years immediately preceding
the year in which the assessment is made, upon application under Section
10-160, shall be valued on the basis of its fair cash value, estimated at the
price it would bring at a fair, voluntary sale for use by the buyer for open
space purposes.
Land is considered used for open space purposes if it is more than 10 acres
in area and:
(a) is actually and exclusively used for maintaining | | or enhancing natural or scenic resources,
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(b) protects air or streams or water supplies,
(c) promotes conservation of soil, wetlands, beaches,
| | or marshes, including ground cover or planted perennial grasses, trees and shrubs and other natural perennial growth, and including any body of water, whether man-made or natural,
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(d) conserves landscaped areas, such as public or
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(e) enhances the value to the public of abutting or
| | neighboring parks, forests, wildlife preserves, nature reservations, sanctuaries, or other open spaces, or
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(f) preserves historic sites.
Land is not considered used for open space purposes if it is used primarily
for residential purposes.
If the land is improved with a water-retention dam that is operated primarily for commercial purposes, the water-retention dam is not considered to be used for open space purposes despite the fact that any resulting man-made lake may be considered to be used for open space purposes under this Section.
(Source: P.A. 95-70, eff. 1-1-08.)
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