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90_HB2199
35 ILCS 200/9-145
Amends the Property Tax Code. Makes technical changes in
the Section concerning the statutory level of assessment.
LRB9000120KRkb
LRB9000120KRkb
1 AN ACT to amend the Property Tax Code by changing Section
2 9-145.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Property Tax Code is amended by changing
6 Section 9-145 as follows:
7 (35 ILCS 200/9-145)
8 Sec. 9-145. Statutory level of assessment. Except in
9 counties with more than 200,000 inhabitants that which
10 classify property for purposes of taxation, property shall be
11 valued as follows:
12 (a) Each tract or lot of property shall be valued
13 at 33 1/3% of its fair cash value.
14 (b) Each taxable leasehold estate shall be valued
15 at 33 1/3% of its fair cash value.
16 (c) Each building or structure that which is
17 located on the right of way of any canal, railroad or
18 other company leased or granted to another company or
19 person for a term of years, shall be valued at 33 1/3% of
20 its fair cash value.
21 (d) Any property on which there is a coal or other
22 mine, or stone or other quarry, shall be valued at 33
23 1/3% of its fair cash value. Oil, gas and other
24 minerals, except coal, shall have value and be assessed
25 separately at 33 1/3% of the fair cash value of such oil,
26 gas and other minerals. Coal shall be assessed
27 separately at 33 1/3% of the coal reserve economic value,
28 as provided in Sections 10-170 through 10-200.
29 (e) In the assessment of property encumbered by
30 public easement, any depreciation occasioned by such
31 easement shall be deducted in the valuation of such
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1 property. Any property dedicated as a nature preserve
2 under the Illinois Natural Areas Preservation Act, for
3 the purposes of this paragraph, is encumbered by a public
4 easement and shall be depreciated for assessment purposes
5 to a level at which its valuation shall be $1 per acre or
6 portion thereof.
7 This Section is subject to and modified by Sections
8 10-110 through 10-140 and 11-5 through 11-65.
9 (Source: P.A. 84-1343; 88-455.)