100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB0592

 

Introduced , by Rep. Sam Yingling

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/18-45

    Amends the Property Tax Code. Provides that the aggregate rate of tax imposed by all taxing districts on any parcel of residential property that, as of January 1 of the levy year, has been occupied by a qualified taxpayer as his or her principal dwelling place for a period of at least 30 years shall not exceed 5%. Provides that the term "qualified taxpayer" means a person who (i) is 65 years of age or older during the taxable year, (ii) is liable for paying real estate taxes on the property, and (iii) is an owner of record of the property or has a legal or equitable interest therein as evidenced by a written instrument, except for a leasehold interest, other than a leasehold interest of land on which a single family residence is located. Contains provisions concerning applications for the reduction. Effective immediately.


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FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB0592LRB100 03662 HLH 13667 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 changing
5Section 18-45 as follows:
 
6    (35 ILCS 200/18-45)
7    Sec. 18-45. Computation of rates.
8    (a) Except as provided below, each county clerk shall
9estimate and determine the rate per cent upon the equalized
10assessed valuation for the levy year of the property in the
11county's taxing districts and special service areas, as
12established under Article VII of the Illinois Constitution, so
13that the rate will produce, within the proper divisions of that
14county, not less than the net amount that will be required by
15the county board or certified to the county clerk according to
16law. Prior to extension, the county clerk shall determine the
17maximum amount of tax authorized to be levied by any statute.
18If the amount of any tax certified to the county clerk for
19extension exceeds the maximum, the clerk shall extend only the
20maximum allowable levy.
21    (b) The county clerk shall exclude from the total equalized
22assessed valuation, whenever estimating and determining it
23under this Section and Sections 18-50 through 18-105, the

 

 

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1equalized assessed valuation in the percentage which has been
2agreed to by each taxing district, of any property or portion
3thereof within an Enterprise Zone upon which an abatement of
4taxes was made under Section 18-170. However, if a municipality
5has adopted tax increment financing under Division 74.4 of
6Article 11 of the Illinois Municipal Code, the county clerk
7shall estimate and determine rates in accordance with Sections
811-74.4-7 through 11-74.4-9 of that Act. Beginning on January
91, 1998 and thereafter, the equalized assessed value of all
10property for the computation of the amount to be extended
11within a county with 3,000,000 or more inhabitants shall be the
12sum of (i) the equalized assessed value of such property for
13the year immediately preceding the levy year as established by
14the assessment and equalization process for the year
15immediately prior to the levy year, (ii) the equalized assessed
16value of any property that qualifies as new property, as
17defined in Section 18-185, or annexed property, as defined in
18Section 18-225, for the current levy year, and (iii) any
19recovered tax increment value, as defined in Section 18-185,
20for the current levy year, less the equalized assessed value of
21any property that qualifies as disconnected property, as
22defined in Section 18-225, for the current levy year.
23    (c) Notwithstanding any other provision of law, and subject
24to any other statutory limitations on the rate of tax imposed
25by any taxing district, the aggregate rate of tax imposed by
26all taxing districts on any parcel of residential property

 

 

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1that, as of January 1 of the levy year, has been occupied by a
2qualified taxpayer as his or her principal dwelling place for a
3period of at least 30 years shall not exceed 5%. If the county
4clerk is required to reduce the rate of tax extended against a
5parcel of property in accordance with this subsection, then
6each taxing district shall receive a pro rata share of the
7proceeds attributable to that property. The assessor or chief
8county assessment officer may determine the eligibility of
9residential property to receive the reduction provided by this
10subsection by application, visual inspection, questionnaire,
11or other reasonable methods. The determination must be made in
12accordance with guidelines established by the Department.
13Application must be made during the application period in
14effect for the county in which the property is located. Each
15taxpayer who has been granted a reduction under this subsection
16must reapply on an annual basis. The chief county assessment
17officer shall mail the application to the taxpayer. For the
18purposes of this subsection (c), "qualified taxpayer" means a
19person who (i) is 65 years of age or older during the taxable
20year, (ii) is liable for paying real estate taxes on the
21property, and (iii) is an owner of record of the property or
22has a legal or equitable interest therein as evidenced by a
23written instrument, except for a leasehold interest, other than
24a leasehold interest of land on which a single family residence
25is located.
26(Source: P.A. 90-320, eff. 1-1-98.)
 

 

 

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1    Section 99. Effective date. This Act takes effect upon
2becoming law.