Illinois General Assembly - Illinois Compiled Statutes

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35 ILCS 250/5

(35 ILCS 250/5)

Sec. 5.

Public policy.

In recognition of the severe economic circumstances
of certain longtime owner-occupants of residences who are faced with rising
living costs and constantly increasing tax burdens in areas where real property
values have risen markedly as a consequence of the renovation of other
deteriorating residences or the construction of new residences, the General
Assembly considers it to be a matter of sound public policy for counties having
a population of 100,000 or more to adopt uniform special real property tax
relief provisions in order to allow longtime owner-occupants of residences to
remain in peaceful possession of their homes.

(Source: P.A. 88-451.)