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91_HB1463
LRB9103279PTpk
1 AN ACT to amend the Property Tax Code by changing Section
2 9-180.
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 9-180 as follows:
7 (35 ILCS 200/9-180)
8 Sec. 9-180. Pro-rata valuations; improvements or removal
9 of improvements. The owner of property on January 1 also
10 shall be liable, on a proportionate basis, for the increased
11 taxes occasioned by the construction of new or added
12 buildings, structures or other improvements on the property
13 from the date when the improvement was substantially
14 completed or initially occupied or initially used, to
15 December 31 of that year. The liability of the owner shall be
16 decreased, on a proportionate basis, by the grant of each
17 homestead exemption for which the owner qualifies. The owner
18 of the improved property shall notify the assessor, within 30
19 days of completion of the improvements, on a form prescribed
20 by that official, and request that the property be
21 reassessed. The notice shall be sent by certified mail,
22 return receipt requested and shall include the legal
23 description of the property.
24 When, during the previous calendar year, any buildings,
25 structures or other improvements on the property were
26 destroyed and rendered uninhabitable or otherwise unfit for
27 occupancy or for customary use by accidental means (excluding
28 destruction resulting from the willful misconduct of the
29 owner of such property), the owner of the property on January
30 1 shall be entitled, on a proportionate basis, to a
31 diminution of assessed valuation for such period during which
-2- LRB9103279PTpk
1 the improvements were uninhabitable or unfit for occupancy or
2 for customary use. The owner of property entitled to a
3 diminution of assessed valuation shall, on a form prescribed
4 by the assessor, within 90 days after the destruction of any
5 improvements or, in counties with less than 3,000,000
6 inhabitants within 90 days after the township or
7 multi-township assessor has mailed the application form as
8 required by Section 9-190, file with the assessor for the
9 decrease of assessed valuation. Upon failure so to do within
10 the 90 day period, no diminution of assessed valuation shall
11 be attributable to the property.
12 Computations under this Section shall be on the basis of
13 a year of 365 days.
14 (Source: P.A. 88-455; 89-412, eff. 11-17-95.)