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| Public Act 103-1002 | ||||
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AN ACT concerning revenue. | ||||
Be it enacted by the People of the State of Illinois, | ||||
represented in the General Assembly: | ||||
Section 5. The Department of Revenue Law of the Civil | ||||
Administrative Code of Illinois is amended by adding Section | ||||
2505-815 as follows: | ||||
(20 ILCS 2505/2505-815 new) | ||||
Sec. 2505-815. Property tax system study. The Department, | ||||
in consultation with the Department of Commerce and Economic | ||||
Opportunity, shall conduct a study to evaluate the property | ||||
tax system in the State and shall analyze any information | ||||
collected in connection with that study. The Department may | ||||
also examine whether the existing property tax levy, | ||||
assessment, appeal, and collection process is reasonable and | ||||
fair and may issue recommendations to improve that process. | ||||
For purposes of conducting the study and analyzing the data | ||||
required under this Section, the Department may determine the | ||||
scope of the historical data necessary to complete the study, | ||||
but in no event shall the scope or time period be less than the | ||||
10 most recent tax years for which the Department has complete | ||||
data. The study shall include, but need not be limited to, the | ||||
following: | ||||
(1) a comprehensive review of the classification | ||||
system used by Cook County in assessing real property in | ||
Cook County compared with the rest of the State, | ||
including, but not limited to, a projection of the impact, | ||
if any, that the assessment of real property in Cook | ||
County would exhibit if the classification system were to | ||
be phased-out and transitioned to a uniform level of | ||
assessment, and the impact, if any, that the Cook County | ||
classification system has or has had on economic | ||
development or job creation in the county; | ||
(2) a comprehensive review of State laws concerning | ||
the appeal of assessments at the local and State level and | ||
State laws concerning the collection of property taxes, | ||
including any issues that have resulted in delays in | ||
issuing property tax bills; | ||
(3) a comprehensive review of statewide assessment | ||
processes, including a comparison of assessment process in | ||
Cook County and other counties and practices in other | ||
states that allow for standardized assessment processes; | ||
(4) a comprehensive review of current property tax | ||
homestead exemptions, the impact of those exemptions, and | ||
the administration or application of those exemptions; | ||
(5) an analysis of preferential assessments or | ||
incentives, including, but not limited to, the resultant | ||
economic impact from preferential assessments; and | ||
(6) a review of the State's reliance on property taxes | ||
and the historical growth in property tax levies. | ||
The Department may consult with Illinois institutions of | ||
higher education in conducting the study required under this | ||
Section. The Department may also consult with units of local | ||
government. To the extent practicable and where applicable, | ||
the Department may request relevant, publicly available | ||
property tax information from units of local government, | ||
including counties and municipalities, that is deemed | ||
necessary to complete the study required pursuant to this | ||
Section. Units of local government that are required to submit | ||
property tax information to the Department must do so in a | ||
reasonably expedient manner, to the extent possible, but in no | ||
event later than 60 days after the date upon which the | ||
Department requests that relevant information. | ||
The Department may complete a preliminary report that may | ||
be made available for public inspection via electronic means | ||
prior to the publication of the final report under this | ||
Section. The Department shall complete and submit the final | ||
report under this Section to the Governor and the General | ||
Assembly by July 1, 2026. A copy of both the preliminary | ||
report, if made available by the Department, and the final | ||
report shall be made available to the public via electronic | ||
means. The Department may allow for the submission of public | ||
comments from individuals, organizations, or associations | ||
representing residential property owners, commercial property | ||
owners, units of local government, or labor unions in Illinois | ||
prior to finalizing the final report under this Section and | ||
after publication of the final report under this Section. If | ||
the Department allows for the submission of public comments, | ||
the Department shall publish via electronic means any and all | ||
materials submitted to the Department. | ||
This Section is repealed on December 31, 2026. | ||