103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3439 Introduced , by Rep. Amy Elik SYNOPSIS AS INTRODUCED: 35 ILCS 200/9-155 35 ILCS 200/9-160 35 ILCS 200/9-162 new Amends the Property Tax Code. Provides that, beginning in tax year 2025, each chief county assessment officer shall establish a rolling 3-year assessment period for property. Effective immediately. LRB103 04935 HLH 49945 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3439 Introduced , by Rep. Amy Elik SYNOPSIS AS INTRODUCED: 35 ILCS 200/9-155 35 ILCS 200/9-160 35 ILCS 200/9-162 new 35 ILCS 200/9-155 35 ILCS 200/9-160 35 ILCS 200/9-162 new Amends the Property Tax Code. Provides that, beginning in tax year 2025, each chief county assessment officer shall establish a rolling 3-year assessment period for property. Effective immediately. LRB103 04935 HLH 49945 b LRB103 04935 HLH 49945 b A BILL FOR
103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3439 Introduced , by Rep. Amy Elik SYNOPSIS AS INTRODUCED:
35 ILCS 200/9-155 35 ILCS 200/9-160 35 ILCS 200/9-162 new 35 ILCS 200/9-155 35 ILCS 200/9-160 35 ILCS 200/9-162 new
35 ILCS 200/9-155
35 ILCS 200/9-160
35 ILCS 200/9-162 new
Amends the Property Tax Code. Provides that, beginning in tax year 2025, each chief county assessment officer shall establish a rolling 3-year assessment period for property. Effective immediately.
LRB103 04935 HLH 49945 b LRB103 04935 HLH 49945 b
LRB103 04935 HLH 49945 b
A BILL FOR
HB3439LRB103 04935 HLH 49945 b HB3439 LRB103 04935 HLH 49945 b
HB3439 LRB103 04935 HLH 49945 b
1 AN ACT concerning revenue.
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 Sections 9-155 and 9-160 and by adding Section 9-162 as
6 follows:
7 (35 ILCS 200/9-155)
8 Sec. 9-155. Valuation in general assessment years. On or
9 before June 1 in each general assessment year in all counties
10 with less than 3,000,000 inhabitants, and as soon as he or she
11 reasonably can in each general assessment year in counties
12 with 3,000,000 or more inhabitants, or if any such county is
13 divided into assessment districts as provided in Sections
14 9-215 through 9-225, as soon as he or she reasonably can in
15 each general assessment year in those districts, the assessor,
16 in person or by deputy, shall actually view and determine as
17 near as practicable the value of each property listed for
18 taxation as of January 1 of that year, or as provided in
19 Section 9-180, and assess the property at 33 1/3% of its fair
20 cash value, or in accordance with Sections 10-110 through
21 10-140 and 10-170 through 10-200, or in accordance with a
22 county ordinance adopted under Section 4 of Article IX of the
23 Constitution of Illinois. The assessor or deputy shall set
103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3439 Introduced , by Rep. Amy Elik SYNOPSIS AS INTRODUCED:
35 ILCS 200/9-155 35 ILCS 200/9-160 35 ILCS 200/9-162 new 35 ILCS 200/9-155 35 ILCS 200/9-160 35 ILCS 200/9-162 new
35 ILCS 200/9-155
35 ILCS 200/9-160
35 ILCS 200/9-162 new
Amends the Property Tax Code. Provides that, beginning in tax year 2025, each chief county assessment officer shall establish a rolling 3-year assessment period for property. Effective immediately.
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LRB103 04935 HLH 49945 b
A BILL FOR
35 ILCS 200/9-155
35 ILCS 200/9-160
35 ILCS 200/9-162 new
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1 down, in the books furnished for that purpose the assessed
2 valuation of properties in one column, the assessed value of
3 improvements in another, and the total valuation in a separate
4 column.
5 This Section applies before assessment year 2025.
6 (Source: P.A. 86-1481; 87-1189; 88-455.)
7 (35 ILCS 200/9-160)
8 Sec. 9-160. Valuation in years other than general
9 assessment years. On or before June 1 in each year other than
10 the general assessment year, in all counties with less than
11 3,000,000 inhabitants, and as soon as he or she reasonably can
12 in counties with 3,000,000 or more inhabitants, the assessor
13 shall list and assess all property which becomes taxable and
14 which is not upon the general assessment, and also make and
15 return a list of all new or added buildings, structures or
16 other improvements of any kind, the value of which had not been
17 previously added to or included in the valuation of the
18 property on which such improvements have been made, specifying
19 the property on which each of the improvements has been made,
20 the kind of improvement and the value which, in his or her
21 opinion, has been added to the property by the improvements.
22 The assessment shall also include or exclude, on a
23 proportionate basis in accordance with the provisions of
24 Section 9-180, all new or added buildings, structures or other
25 improvements, the value of which was not included in the
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1 valuation of the property for that year, and all improvements
2 which were destroyed or removed. In case of the destruction or
3 injury by fire, flood, cyclone, storm or otherwise, or removal
4 of any structures of any kind, or of the destruction of or any
5 injury to orchard timber, ornamental trees or groves, the
6 value of which has been included in any former valuation of the
7 property, the assessor shall determine as near as practicable
8 how much the value of the property has been diminished, and
9 make return thereof.
10 Beginning January 1, 1996, the authority within a unit of
11 local government that is responsible for issuing building or
12 occupancy permits shall notify the chief county assessment
13 officer, by December 31 of the assessment year, when a full or
14 partial occupancy permit has been issued for a parcel of real
15 property. The chief county assessment officer shall include in
16 the assessment of the property for the current year the
17 proportionate value of new or added improvements on that
18 property from the date the occupancy permit was issued or from
19 the date the new or added improvement was inhabitable and fit
20 for occupancy or for intended customary use until December 31
21 of that year. If the chief county assessment officer has
22 already certified the books for the year, the board of review
23 or interim board of review shall assess the new or added
24 improvements on a proportionate basis for the year in which
25 the occupancy permit was issued or the new or added
26 improvement was inhabitable and fit for occupancy or for
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1 intended customary use. The proportionate value of the new or
2 added improvements may be assessed by the board of review or
3 interim board of review as omitted property pursuant to
4 Sections 9-265, 9-270, 16-50 and 16-140 in a subsequent year
5 on a proportionate basis for the year in which the occupancy
6 permit was issued or the new or added improvement was
7 inhabitable and fit for occupancy or for intended customary
8 use if it was not assessed in that year.
9 This Section applies before assessment year 2025.
10 (Source: P.A. 91-486, eff. 1-1-00.)
11 (35 ILCS 200/9-162 new)
12 Sec. 9-162. 3-year assessment period established. This
13 Section applies in tax year 2025 and thereafter.
14 Beginning in tax year 2025, each chief county assessment
15 officer shall establish a rolling 3-year assessment period for
16 property. On or before June 1 of each year, the assessor, in
17 person or by deputy, shall actually view and determine, as
18 near as practicable, the value of each property listed for
19 taxation for that tax year and determine 33 1/3% of the
20 property's fair cash value, or, if the property is not
21 required to be assessed at 33 1/3% of the property's fair cash
22 value, the property's appropriate statutory level of
23 assessment. The assessor or deputy shall set down, in the
24 books furnished for that purpose the assessed valuation of
25 properties in one column, the assessed value of improvements
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1 in another, and the total valuation in a separate column. The
2 assessed value of the property shall then be determined by
3 calculating the average value of the property for the current
4 tax year and the 2 immediately preceding tax years.
5 Section 99. Effective date. This Act takes effect upon
6 becoming law.
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