100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
SB0609
 
Introduced 1/24/2017, by Sen. Julie A. Morrison
 
SYNOPSIS AS INTRODUCED:
 

 
35 ILCS 200/7-20 new

     Amends the Property Tax Code.  Provides that, if an appeal concerning the assessed valuation of property has been pending before the Property Tax Appeal Board for 2 or more years prior to January 1 of the current assessment year and is still pending as of June 1 of the current assessment year, then the assessed valuation of the property shall be the lesser of: (1) the highest equalized assessed valuation for that property for any assessment year at issue before the Property Tax Appeal Board; or (2) the assessed valuation for that property for the current assessment year as calculated under the Code. Provides that the appellant must meet certain other requirements for that alternate valuation.  Effective immediately.
  


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FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
 
 
A BILL FOR
 

  
SB0609LRB100 05446 HLH 15457 b


  
1    AN ACT concerning revenue.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 5. The Property Tax Code is amended  by adding 
5Section 7-20 as follows:
 
6    (35 ILCS 200/7-20 new)
7    Sec. 7-20. Assessed value; pending appeals.  
8Notwithstanding any other provision of law, the assessed 
9valuation of any property for which an appeal has been pending 
10before the Property Tax Appeal Board for 2 or more years prior 
11to January 1 of the current assessment year and is still 
12pending as of June 1 of the current assessment year shall be 
13the lesser of: (1) the highest equalized assessed valuation for 
14that property for any assessment year at issue before the 
15Property Tax Appeal Board; or (2) the assessed valuation for 
16that property for the current assessment year according to 
17Section 9-155 or Section 9-160, whichever is applicable.  This 
18Section applies only if:
19        (1) the appellant before the Property Tax Appeal Board 
20    is the owner of the property as of January 1 of the current 
21    assessment year; 
22        (2) the appellant before the Property Tax Appeal Board 
23    has not moved for an extension of time in the appeal of the 
 
 
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1    property's assessed valuation; 
2        (3)  no improvements have been made to the property 
3    since the first assessment year on appeal; and 
4        (4) the  appeal  is  not based  solely  on  the  effect  of  an 
5    equalization factor assigned to all property or to a class 
6    of property by the board of  review. 
 
 
7    Section 99. Effective date. This Act takes effect upon 
8becoming law.