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92_HB0711
LRB9201996SMdvA
1 AN ACT concerning taxes.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Property Tax Code is amended by changing
5 Section 4-20 as follows:
6 (35 ILCS 200/4-20)
7 Sec. 4-20. Additional compensation based on performance.
8 (a) Any assessor in counties with less than 3,000,000
9 but more than 50,000 inhabitants each year may petition the
10 Department to receive additional compensation based on
11 performance. To receive additional compensation, the
12 official's assessment jurisdiction must meet the following
13 criteria:
14 (1) the median level of assessment must be no more
15 than 35 1/3% and no less than 31 1/3% of fair cash value
16 of property in his or her assessment jurisdiction; and
17 (2) the coefficient of dispersion must not be
18 greater than 15%.
19 For purposes of this Section, "coefficient of dispersion"
20 means the average deviation of all assessments from the
21 median level. The Department will promulgate rules and
22 regulations to determine whether an assessor meets these
23 criteria.
24 Any assessor in a county of less than 50,000 inhabitants
25 may petition the Department for consideration to receive
26 additional compensation each year based on performance. In
27 order to receive the additional compensation, the assessments
28 in the official's assessment jurisdiction must meet the
29 following criteria: (i) the median level of assessments must
30 be no more than 35 1/3% and no less than 31 1/3% of fair cash
31 value of property in his or her assessment jurisdiction; and
-2- LRB9201996SMdvA
1 (ii) the coefficient of dispersion must not be greater than
2 40% in 1994, 38% in 1995, 36% in 1996, 34% in 1997, 32% in
3 1998, and 30% in 1999 and every year thereafter.
4 Real estate transfer declarations used by the Department
5 in annual sales-assessment ratio studies will be used to
6 evaluate applications for additional compensation. The
7 Department will audit other property to determine if the
8 sales-assessment ratio study data is representative of the
9 assessment jurisdiction. If the ratio study is found not
10 representative, appraisals and other information may be
11 utilized. If the ratio study is representative, upon
12 certification by the Department, the assessor shall receive
13 additional compensation of $3,000 for that year, to be paid
14 out of funds appropriated to the Department.
15 As used in this Section, "assessor" means any township or
16 multi-township assessor, or supervisor of assessments.
17 (b) Payment through township. The gross amount of any
18 additional compensation due under subsection (a) to a
19 township assessor or multi-township assessor must be paid to
20 the assessor's township. The township must, within 21 days
21 after receipt of the payment, (i) pay to the assessor the net
22 amount of the additional compensation received under
23 subsection (a) and (ii) remit to the appropriate governmental
24 agencies or other entities all withholdings, including
25 withholdings required to be made or deducted by the township
26 as an employer. No audit or approval by the township board
27 of trustees is required for purposes of this subsection (b).
28 tf (Source: P.A. 88-455; incorporates 88-221; 88-670, eff.
29 12-2-94.)
30 Section 99. Effective date. This Act takes effect upon
31 becoming law.