Illinois General Assembly - Bill Status for HB0506

Replaces everything after the enacting clause. Amends the Property Tax Code. Provides that, if any property that was not eligible to receive a homestead exemption was granted a homestead exemption, then a tax lien may be placed against the property and the arrearages of taxes that might have been assessed, plus specified penalties, shall be charged against the property by the county clerk. Contains provisions concerning notice and hearings. Provides that, if the erroneous homestead exemption is granted as a result of a clerical error or omission on the part of the chief county assessment officer, and if the owner has paid its tax bills as received for the year or years in which the error occurred, then the penalties shall not be chargeable to the owner. Provides that a board of review may enter into discussions with a taxpayer aimed at achieving a stipulated revised assessment upon the property. Contains provisions concerning notice provided to taxing districts regarding the stipulated revised assessment and objections by taxing districts to the proposed assessment. Provides that any proposed stipulation or agreement may not be used as evidence in any proceeding before the Property Tax Appeal Board. Provides that, if property is owned by the State, a unit of local government, or a school district and that property is leased to the State, a unit of local government, or a school district, then the property and the leasehold interest are exempt from taxation under the Property Tax Code or under any other law. Further provides that property of schools that is leased to the State, a unit of local government, or a school district (now, only leases to a municipality) for governmental purposes on a not-for-profit basis is exempt and that the leasehold interest is not taxable. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Further amends the Property Tax Code. Removes a requirement that applicants for the Senior Citizens Assessment Freeze Homestead Exemption must submit an affidavit containing the applicant's total household income, age, marital status, and principal dwelling place of members of the household. Provides that the application for the exemption must contain that information. Provides that applications for the Senior Citizens Assessment Freeze Homestead Exemption are not required to be notarized.

×