Public Act 90-0368 of the 90th General Assembly

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Public Act 90-0368

SB1075 Enrolled                              SDS/bill0030/dgp

    AN ACT to amend the Property Tax Code by changing Section

    Be it enacted by the People of  the  State  of  Illinois,
represented in the General Assembly:

    Section  5.  The Property Tax Code is amended by changing
Section 15-175 as follows:

    (35 ILCS 200/15-175)
    Sec. 15-175.   General  homestead  exemption.   Homestead
property   is  entitled  to  an  annual  homestead  exemption
limited,  except  as  described   here   with   relation   to
cooperatives,  to a reduction in the equalized assessed value
of homestead property equal  to  the  increase  in  equalized
assessed  value  for  the  current  assessment year above the
equalized assessed value of the property for 1977, up to  the
maximum  reduction  set  forth  below.  If  however, the 1977
equalized assessed  value  upon  which  taxes  were  paid  is
subsequently  determined  by  local  assessing officials, the
Property Tax Appeal Board, or a court to have been excessive,
the equalized assessed value which should have been placed on
the property for 1977 shall be used to determine  the  amount
of the exemption.
    The  maximum  reduction  shall be $4,500 in counties with
3,000,000  or  more  inhabitants  and  $3,500  in  all  other
    In counties with fewer than  3,000,000  inhabitants,  if,
based  on  the most recent assessment, the equalized assessed
value of the homestead property for  the  current  assessment
year  is  greater  than  the  equalized assessed value of the
property  for  1977,  the  owner  of   the   property   shall
automatically   receive  the  exemption  granted  under  this
Section in an amount equal to  the  increase  over  the  1977
assessment  up  to  the  maximum  reduction set forth in this
    "Homestead  property"   under   this   Section   includes
residential  property that is occupied by its owner or owners
as his or their  principal  dwelling  place,  or  that  is  a
leasehold  interest  on  which  a  single family residence is
situated, which is occupied as a residence by  a  person  who
has an ownership interest therein, legal or equitable or as a
lessee,  and on which the person is liable for the payment of
property taxes. For land improved with an apartment  building
owned  and operated as a cooperative or a building which is a
life  care  facility  as  defined  in  Section   15-170   and
considered  to  be  a  cooperative  under Section 15-170, the
maximum reduction from the equalized assessed value shall  be
limited  to  the  increase  in  the value above the equalized
assessed value of the property for 1977, up  to  the  maximum
reduction  set  forth  above,  multiplied  by  the  number of
apartments or units occupied by a person or  persons  who  is
liable,  by  contract with the owner or owners of record, for
paying property taxes on the property  and  is  an  owner  of
record  of  a  legal or equitable interest in the cooperative
apartment building, other  than  a  leasehold  interest.  For
purposes  of  this Section, the term "life care facility" has
the meaning stated in Section 15-170.
    In a cooperative where a  homestead  exemption  has  been
granted,  the  cooperative association or its management firm
shall credit the savings resulting from that  exemption  only
to  the  apportioned tax liability of the owner who qualified
for the exemption.  Any person who willfully  refuses  to  so
credit the savings shall be guilty of a Class B misdemeanor.
    Where  married  persons  maintain  and reside in separate
residences qualifying as homestead property,  each  residence
shall  receive  50%  of  the  total  reduction  in  equalized
assessed valuation provided by this Section.
    In  counties  with  more  than 3,000,000 inhabitants, the
The  assessor,  or  chief  county  assessment   officer   may
determine  the eligibility of residential property to receive
the homestead exemption by  application,  visual  inspection,
questionnaire or other reasonable methods.  The determination
shall  be  made  in accordance with guidelines established by
the  Department.  In  counties  with  less   than   3,000,000
inhabitants,   if   an   application  is  used  to  determine
eligibility, the application shall be mailed to any  taxpayer
over  65  years  of  age  who  has  once applied for and been
granted an exemption under this Section.
(Source: P.A. 87-894; 87-1189; 88-455.)

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