(35 ILCS 200/15-25)
Removal of exemptions.
If the Department determines that any
property has been unlawfully exempted from taxation, or is no longer entitled
to exemption, the Department shall, before January 1 of any year, direct the
chief county assessment officer to assess the property and return it to the
assessment rolls for the next assessment year. The Department shall give
notice of its decision to the owner of the property by certified mail. The
decision shall be subject to review and hearing under Section 8-35, upon
application by the owner filed within 60 days after the notice of
mailed. However, the extension of taxes on the assessment shall not be delayed
by any proceedings under this Section. If the property is determined to be
exempt, any taxes extended upon the assessment shall be abated or, if already
paid, be refunded.
(Source: P.A. 95-331, eff. 8-21-07.)