Illinois General Assembly - Illinois Compiled Statutes

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35 ILCS 200/14-25

(35 ILCS 200/14-25)

Sec. 14-25.

Certificate of error; tax exempt property.

If an exemption is
approved by the Department or by a final court decision in proceedings to
review an exemption decision of the Department under the Administrative Review
Law then a certificate of error shall be issued under Section 14-15 or
14-20
if one of the following is met:

(a) If the property became eligible for the exemption at an
earlier time, a
certificate of error shall be issued
for
the period of eligibility, but in no event, except as otherwise provided in
this subsection (a), for more than the 3 assessment years
immediately preceding the assessment year for which the exemption was
approved. A certificate of error
shall be issued for the period of eligibility, but in no
event for more than the 5 assessment years immediately preceding the assessment
year for which the exemption was approved, if the municipality requests the
certificate of error before January 1, 1995.

(b) If the property is subsequently erroneously assessed as non-exempt,
that
error shall be remedied by the issuance of a certificate of error.

(c) If the owner failed to file an application for exemption, or a
certificate
of status under Section 15-10, for an assessment year following the assessment
year for which the exemption was approved and the property remains eligible for
exemption for the following year.

(Source: P.A. 88-455; 88-660, eff. 9-16-94.)