Information maintained by the Legislative Reference Bureau
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35 ILCS 200/10-31

    (35 ILCS 200/10-31)
    Sec. 10-31. Subdivisions; counties of less than 3,000,000.
    (a) In counties with less than 3,000,000 inhabitants, the platting and subdivision of property into separate lots and the development of the subdivided property with streets, sidewalks, curbs, gutters, sewer, water and utility lines shall not increase the assessed valuation of all or any part of the property, if:
        (1) The property is platted and subdivided in
    
accordance with the Plat Act;
        (2) The platting occurs after January 1, 1978;
        (3) At the time of platting the property is in excess
    
of 5 acres; and
        (4) At the time of platting or replatting the
    
property is vacant or used as a farm as defined in Section 1-60.
    (b) Except as provided in subsection (c) of this Section, the assessed valuation of property so platted and subdivided shall be determined based on the assessed value assigned to the property when last assessed prior to its last transfer or conveyance. An initial sale of any platted lot, including a lot that is vacant, or a transfer to a holder of a mortgage, as defined in Section 15-1207 of the Code of Civil Procedure, pursuant to a mortgage foreclosure proceeding or pursuant to a transfer in lieu of foreclosure, does not disqualify that lot from the provisions of this subsection (b).
    (c) Upon completion of a habitable structure on any lot of subdivided property, or upon the use of any lot, either alone or in conjunction with any contiguous property, for any business, commercial or residential purpose: (i) the provisions of subsection (b) of this Section shall no longer apply in determining the assessed valuation of the lot, (ii) each lot shall be assessed without regard to any provision of this Section, and (iii) the assessed valuation of the remaining property, when next determined, shall be reduced proportionately to reflect the exclusion of the property that no longer qualifies for valuation under this Section. Holding or offering a platted lot for initial sale shall not constitute a use of the lot for business, commercial or residential purposes unless a habitable structure is situated on the lot or unless the lot is otherwise used for a business, commercial or residential purpose. The replatting of a subdivision or portion of a subdivision does not disqualify the replatted lots from the provisions of subsection (b).
    (d) This Section applies on and after the effective date of this amendatory Act of the 96th General Assembly and through December 31, 2011.
(Source: P.A. 96-480, eff. 8-14-09.)

35 ILCS 200/10-35

    (35 ILCS 200/10-35)
    Sec. 10-35. Subdivision common areas.
    (a) Residential property which is part of a development, but which is individually owned and ownership of which includes the right, by easement, covenant, deed or other interest in property, to the use of any common area for recreational or similar residential purposes shall be assessed at a value which includes the proportional share of the value of that common area or areas.
    Property is used as a "common area or areas" under this Section if it is a lot, parcel, or area, the beneficial use and enjoyment of which is reserved in whole as an appurtenance to the separately owned lots, parcels, or areas within the planned development.
    The common area or areas which are used for recreational or similar residential purposes and which are assessed to a separate owner and are located on separately identified parcels, shall be listed for assessment purposes at $1 per year.
    (b) In counties with 3,000,000 or more inhabitants, any person desiring to establish or to reestablish an assessment of $1 for any parcel on grounds of common area status under this Section shall submit an application for the assessment to the assessor. The application shall be submitted at the time within which other applications for revisions of assessment may be made under Section 14-35 by taxpayers in the township where the parcel is located, and shall be in the form and accompanied by documentation, as the assessor may require.
    (c) If a $1 assessment is established pursuant to the application it may be maintained from year to year so long as the ownership or use of the parcel has not changed. When any change in ownership, use or other relevant fact occurs it shall be the duty of the new owner in cases of change in ownership, or of the current owner in all other cases, to notify the assessor in writing within 30 days of the change. The notice shall be sent by certified mail, return receipt requested, and shall include the name and address of the taxpayer, the legal description of the property, and the permanent index number of the property where such number exists. If the failure to give such notification results in the assessor continuing to assess the property at $1 in subsequent years in error, the property shall be considered omitted property under Section 9-265. Nothing in this Section shall be construed to limit the assessor's authority to annually revise assessments subject to this Section under the procedures of Section 9-85.
    (d) No objection shall be made to the denial of an assessment of $1 under this Section in any court except under Sections 21-175 and 23-5. No person may object to or otherwise challenge the failure of any parcel to receive an assessment of $1 under this Section in any proceeding in any court unless an application for the $1 assessment was made under subsection (b) of this Section.
(Source: P.A. 85-1386; 88-455.)

35 ILCS 200/Art. 10 Div. 4

 
    (35 ILCS 200/Art. 10 Div. 4 heading)
Division 4. Historic residences

35 ILCS 200/10-40

    (35 ILCS 200/10-40)
    Sec. 10-40. Historic Residence Assessment Freeze Law; definitions. This Section and Sections 10-45 through 10-85 may be cited as the Historic Residence Assessment Freeze Law. As used in this Section and Sections 10-45 through 10-85:
        (a) "Director" means the Director of Historic
    
Preservation.
        (b) "Approved county or municipal landmark ordinance"
    
means a county or municipal ordinance approved by the Director.
        (c) "Historic building" means an owner-occupied
    
single family residence or an owner-occupied multi-family residence and the tract, lot or parcel upon which it is located, or a building or buildings owned and operated as a cooperative, if:
            (1) individually listed on the National Register
        
of Historic Places or the Illinois Register of Historic Places;
            (2) individually designated pursuant to an
        
approved county or municipal landmark ordinance; or
            (3) within a district listed on the National
        
Register of Historic Places or designated pursuant to an approved county or municipal landmark ordinance, if the Director determines that the building is of historic significance to the district in which it is located.
    Historic building does not mean an individual unit of a
    
cooperative.
        (d) "Assessment officer" means the chief county
    
assessment officer.
        (e) "Certificate of rehabilitation" means the
    
certificate issued by the Director upon the renovation, restoration, preservation or rehabilitation of an historic building under this Code.
        (f) "Rehabilitation period" means the period of time
    
necessary to renovate, restore, preserve or rehabilitate an historic building as determined by the Director.
        (g) "Standards for rehabilitation" means the
    
Secretary of Interior's standards for rehabilitation as promulgated by the U.S. Department of the Interior.
        (h) "Fair cash value" means the fair cash value of
    
the historic building, determined on the basis of the assessment officer's property record card, representing the value of the property prior to the commencement of rehabilitation without consideration of any reduction reflecting value during the rehabilitation work.
        (i) "Base year valuation" means the fair cash value
    
of the historic building for the year in which the rehabilitation period begins but prior to the commencement of the rehabilitation and does not include any reduction in value during the rehabilitation work.
        (j) "Adjustment in value" means the difference for
    
any year between the then current fair cash value and the base year valuation.
        (k) "Eight-year valuation period" means the 8 years
    
from the date of the issuance of the certificate of rehabilitation.
        (l) "Adjustment valuation period" means the 4 years
    
following the 8 year valuation period.
        (m) "Substantial rehabilitation" means interior or
    
exterior rehabilitation work that preserves the historic building in a manner that significantly improves its condition.
        (n) "Approved local government" means a local
    
government that has been certified by the Director as:
            (1) enforcing appropriate legislation for the
        
designation of historic buildings;
            (2) having established an adequate and qualified
        
historic review commission;
            (3) maintaining a system for the survey and
        
inventory of historic properties;
            (4) providing for adequate public participation
        
in the local historic preservation program; and
            (5) maintaining a system for reviewing
        
applications under this Section in accordance with rules and regulations promulgated by the Director.
        (o) "Cooperative" means a building or buildings and
    
the tract, lot, or parcel on which the building or buildings are located, if the building or buildings are devoted to residential uses by the owners and fee title to the land and building or buildings is owned by a corporation or other legal entity in which the shareholders or other co-owners each also have a long-term proprietary lease or other long-term arrangement of exclusive possession for a specific unit of occupancy space located within the same building or buildings.
        (p) "Owner", in the case of a cooperative, means the
    
Association.
        (q) "Association", in the case of a cooperative,
    
means the entity responsible for the administration of a cooperative, which entity may be incorporated or unincorporated, profit or nonprofit.
        (r) "Owner-occupied single family residence" means a
    
residence in which the title holder of record (i) holds fee simple ownership and (ii) occupies the property as his, her, or their principal residence.
        (s) "Owner-occupied multi-family residence" means
    
residential property comprised of not more than 6 living units in which the title holder of record (i) holds fee simple ownership and (ii) occupies one unit as his, her, or their principal residence. The remaining units may be leased.
    The changes made to this Section by this amendatory Act of the 91st General Assembly are declarative of existing law and shall not be construed as a new enactment.
(Source: P.A. 90-114, eff. 1-1-98; 91-806, eff. 1-1-01.)

35 ILCS 200/10-45

    (35 ILCS 200/10-45)
    Sec. 10-45. Valuation during 8 year valuation period. In furtherance of the policy of encouraging the rehabilitation of historic residences, property certified pursuant to this Historic Residence Assessment Freeze Law shall be eligible for an assessment freeze, as provided in this Section, eliminating from consideration, for assessment purposes, the value added by the rehabilitation and limiting the total valuation to the base year valuation as defined in subsection (i) of Section 10-40. For all property upon which the Director has issued a certificate of rehabilitation, the valuation for purposes of assessment shall not exceed the base year valuation for the entire 8-year valuation period, unless a taxing district elects, under Section 10-85, that the provisions of this Section shall not apply to taxes that are levied by that taxing district. In the event that election is made, the property shall be valued under Section 9-145 or 9-150 for the purpose of extending taxes of that taxing district. The changes made to this Section by this amendatory Act of the 91st General Assembly are declarative of existing law and shall not be construed as a new enactment.
(Source: P.A. 91-806, eff. 1-1-01.)

35 ILCS 200/10-50

    (35 ILCS 200/10-50)
    Sec. 10-50. Valuation after 8 year valuation period. For the 4 years after the expiration of the 8-year valuation period, the valuation for purposes of computing the assessed valuation shall be as follows:
    For the first year, the base year valuation plus 25% of the adjustment in value.
    For the second year, the base year valuation plus 50% of the adjustment in value.
    For the third year, the base year valuation plus 75% of the adjustment in value.
    For the fourth year, the then current fair cash value.
(Source: P.A. 82-1023; 88-455.)

35 ILCS 200/10-55

    (35 ILCS 200/10-55)
    Sec. 10-55. Application process and application period.
    (a) The Director shall receive applications for certificates of rehabilitation in a form and manner provided by him or her by rule. The Director shall promptly notify the assessment officer of receipt of such applications. The rules shall provide that an applicant may request preliminary approval of rehabilitation before the rehabilitation period begins.
    (b) The Director shall approve an application for a certificate of rehabilitation when he or she finds that the restoration, preservation or rehabilitation:
        (1) involves an historic building;
        (2) has a cost, including architectural fees, equal
    
to or greater than 25% of the base year valuation;
        (3) is for a building for which no certificate of
    
rehabilitation has been approved within 4 years after the last year of the adjustment valuation period;
        (4) was or will be done in accordance with the
    
standards for rehabilitation; and
        (5) was or will be a substantial rehabilitation.
    (c) The Director shall determine the length of the rehabilitation period, which shall not exceed 2 years unless the Director finds:
        (1) it is economically unfeasible to complete the
    
rehabilitation in that period; or
        (2) the magnitude of the project is such that a good
    
faith attempt to complete the rehabilitation in that period would not succeed.
    (d) Upon approval of the application, the Director shall issue a certificate of rehabilitation to the applicant and transmit a copy to the assessment officer. The certificate shall identify the rehabilitation period.
    (e) If during the 8-year valuation period and the adjustment valuation period, the Director determines, in accordance with the Illinois Administrative Procedure Act, that an historic building for which a certificate of rehabilitation has been issued has not been the subject of repair, renovation, remodeling or improvement in accordance with the standards for rehabilitation, he or she shall revoke the certificate of rehabilitation by written notice to the taxpayer of record and transmit a copy of the revocation to the assessment officer.
    The provisions in Section 10-40 through 10-85 apply to certified rehabilitation projects for which an application for a certificate of rehabilitation has been filed with the Director within 2 years of the rehabilitation period.
(Source: P.A. 91-357, eff. 7-29-99; 91-806, eff. 1-1-01.)

35 ILCS 200/10-60

    (35 ILCS 200/10-60)
    Sec. 10-60. Certificate of status. It is the duty of the titleholder of record or the owner of the beneficial interest of any historic building which has been issued a certificate of rehabilitation, to file with the chief county assessment officer, on or before January 31 of each year, an affidavit stating whether there has been any change in the ownership or use of such property, the status of the owner-occupant, or, in the case of a cooperative, whether there has been a change in the use of the property or a change in the cooperative form of ownership. If there has been such a change, the nature of this change shall be stated. Failure to file such an affidavit shall, in the discretion of the chief county assessment officer, constitute cause to revoke the certificate of rehabilitation. The chief county assessment officer shall furnish to the owner a form for the affidavit wherein the owner may state whether there has been any change in the ownership or use of the property or the status of the owner. If the chief county assessment officer determines that the historic building is no longer used as an owner-occupied single family residence or an owner-occupied multi-family residence, or that there has been a sale or transfer for value of the historic building other than to the first owner-occupant after the issuance of a certificate of rehabilitation, or that the historic building no longer meets the definition of a cooperative, he or she shall revoke the certificate by written notice to the taxpayer of record, and shall send a copy of that notice to the Department.
(Source: P.A. 89-675, eff. 8-14-96; 90-114, eff. 1-1-98.)

35 ILCS 200/10-65

    (35 ILCS 200/10-65)
    Sec. 10-65. Receipt of applications. An approved local government shall receive applications for certificates of rehabilitation within its corporate boundaries. The decision of the approved local government shall be final unless disapproved by the Director within 30 days of his receipt of the application and local decision.
(Source: P.A. 86-1481; 88-455.)

35 ILCS 200/10-70

    (35 ILCS 200/10-70)
    Sec. 10-70. Computation of valuation.
    (a) Upon receipt of the certificate of rehabilitation, the assessment officer shall determine the base year valuation and shall make a notation on each statement of assessment during the 8-year valuation period and the adjustment valuation period that the valuation of the historic building shall be based upon the issuance of a certificate of rehabilitation.
    (b) Upon revocation of a certificate of rehabilitation, the assessment officer shall compute the assessed valuation of the building on the basis of the then current fair cash value.
    (c) An historic building receiving a certificate of rehabilitation shall not be eligible for the homestead improvement exemption during the 8-year valuation period and adjustment valuation period.
(Source: P.A. 86-1481; 88-455.)

35 ILCS 200/10-75

    (35 ILCS 200/10-75)
    Sec. 10-75. Approval of municipal ordinances. In addition to the powers and duties described elsewhere in this Code, the Director may approve county or municipal ordinances which qualify historic buildings for consideration under this Code. However, no ordinance shall be approved unless it:
        (a) is designed to preserve and rehabilitate
    
buildings of historic significance;
        (b) contains criteria for the designation of
    
landmarks consistent with those established by the U.S. Department of the Interior for the inclusion of places on the National Register of Historic Places; and
        (c) contains criteria for review of demolitions and
    
major alterations.
(Source: P.A. 87-818; 88-455.)