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Illinois Compiled Statutes
Information maintained by the Legislative Reference Bureau Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide. Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.
REVENUE (35 ILCS 200/) Property Tax Code. 35 ILCS 200/16-195
(35 ILCS 200/16-195)
Sec. 16-195.
Review of decisions.
Final administrative decisions of
the Property Tax Appeal Board are subject to review under the provisions of the
Administrative Review Law, except that in every case where a change in
assessed valuation of $300,000 or more was sought, that review shall be
afforded directly in the Appellate Court for the district in which the property
involved in the Board's decision is situated, and not in the circuit court. The
Property Tax Appeal Board shall certify the record of its proceedings only if
the taxpayer or other entity seeking review under the Administrative Review Law
pays to it for each page of legal size or smaller, the sum of 75¢ per page for
testimony taken before the Board and 25¢ per page for all other matters
contained in the record, and for any page larger than legal size the sum of $1,
except that these charges may be waived when the Board is satisfied that the
aggrieved party cannot afford to pay such charges. There shall be no charge to
the taxpayer or other entity for certification by the Property Tax Appeal Board
of any pages of the record which are furnished for inclusion in the record by
the taxpayer or other entity seeking review. If payment for the record is not
made by the taxpayer or other entity within 30 days after notice from the Board
or the Attorney General of the cost thereof, the court in which the proceeding
is pending, on motion of the Board, shall dismiss the complaint.
(Source: P.A. 87-1189; 88-455.)
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35 ILCS 200/Art. 16 Div. 5
(35 ILCS 200/Art. 16 Div. 5 heading)
Division 5.
Department of Revenue
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35 ILCS 200/16-200
(35 ILCS 200/16-200)
Sec. 16-200.
Review of farmland and coal assessments.
Assessments in each
county made under Sections 10-110 through 10-140 and 10-170 through 10-200
shall be subject to review by the Department to determine whether they are
being made in accordance with those Sections. If it appears to the Department
that local assessing officials are not assigning values determined under the
Sections cited above, the Department may order a reassessment under Section
13-10 or may order that the Board of Review reconvene to correct those
assessments.
(Source: P.A. 80-1386; 88-455.)
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35 ILCS 200/16-205
(35 ILCS 200/16-205)
Sec. 16-205.
Limitation on Department review of individual assessments.
Nothing in this Code shall be construed to give the Department any power,
jurisdiction or authority to review, revise, correct or change any individual
assessment made by any local assessment officer.
(Source: Laws 1943, vol. 1, p. 1136; P.A. 88-455.)
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35 ILCS 200/Art. 17
(35 ILCS 200/Art. 17 heading)
Article 17.
State Equalization Process
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35 ILCS 200/17-5
(35 ILCS 200/17-5)
Sec. 17-5.
Equalization among counties.
The Department shall act as an
equalizing authority. It shall examine the abstracts of property assessed for
taxation in the counties and in the assessment districts in counties having
assessment districts, as returned by the county clerks, and shall equalize the
assessments between counties as provided in this Code. Except as hereinafter
provided, the Department shall lower or raise the total assessed value of
property in each county as returned by the county clerk, other than
property
assessed under Sections 10-110 through 10-140 and 10-170 through 10-200, so
that the property will be assessed at 33 1/3% of its fair cash value.
The Department shall annually determine the percentage relationship, for each
county of the State, between the valuations at which locally-assessed property,
other than property assessed under the Sections 10-110 through 10-140 and
10-170 through 10-200, as listed by assessors and revised by boards
of review, and the estimated 33 1/3% of the fair cash value of
the
property. To make this analysis, the Department shall use property transfers,
property appraisals, and other means as it deems proper and reasonable.
With the ratio determined for each county, the Department shall then
determine the percentage to be added to or deducted from the aggregate reviewed
assessment on property subject to local assessment jurisdiction, other than
property assessed under the Sections cited above, to produce a ratio of
assessed value to 33 1/3% of the fair cash value equivalent to 100%.
(Source: P.A. 91-555, eff. 1-1-00.)
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35 ILCS 200/17-10
(35 ILCS 200/17-10)
Sec. 17-10. Sales ratio studies. The Department shall monitor the
quality of local assessments by designing, preparing and using ratio studies,
and shall use the results as the basis for equalization decisions. In
compiling sales ratio studies, the Department shall exclude from the reported
sales price of any property any amounts included for personal property and,
for sales occurring through December 31, 1999, shall exclude
seller paid points. The Department shall not include in its sales ratio
studies sales of property which have been platted and for which an increase in
the assessed valuation is restricted by Section 10-30.
The Department shall not include in its sales ratio studies the initial sale
of residential property that has been converted to condominium property. The Department shall include compulsory sales occurring on or after January 1, 2011 in its sales ratio studies. The Department shall also consider whether the compulsory sale would otherwise be considered an arm's length transaction, based on existing sales ratio study standards.
When the declaration
required under the Real Estate Transfer Tax Law contains financing information
required under Section 31-25, the Department shall adjust sales prices to
exclude seller-paid points and shall adjust sales prices to "cash value" when
seller related financing is used that is different than the prevailing cost of
cash. The prevailing cost of cash for sales occurring on or after January 1,
1992 shall be established as the monthly average 30-year fixed Primary Mortgage
Market Survey rate for the North Central Region as published weekly by the
Federal Home Loan Mortgage Corporation, as computed by the Department, or such
other rate as determined by the Department. This rate shall be known as the
survey rate. For sales occurring on or after January 1, 1992, through
December 31, 1999, adjustments in
the prevailing cost of cash shall be made only after the survey rate has been
at or above 13% for 12 consecutive months and will continue until the survey
rate has been below 13% for 12 consecutive months.
For sales occurring on or after January 1, 2000, adjustments for seller paid
points and adjustments in the prevailing cost of cash shall be made only after
the survey rate has been at or above 13% for 12 consecutive months and will
continue until the survey rate has been below 13% for 12 consecutive months. The Department shall make
public its adjustment procedure upon request.
(Source: P.A. 96-1083, eff. 7-16-10.)
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35 ILCS 200/17-15
(35 ILCS 200/17-15)
Sec. 17-15.
Tentative equalization factor.
The Department shall forward to
the County Clerk of each county in each year its estimate of the percentage,
established under Section 17-5, to be added to or deducted from the aggregate
of the locally assessed property in that county, other than property assessed
under Sections 10-110 through 10-140 and 10-170 through 10-200. The percentage
relationship to be certified to each county
by the Department as provided by Section 17-25 shall be determined by the ratio
between the percentage estimate so made and forwarded, as provided by this
Section, and the level of assessments of the assessed valuations as made by the
assessors and thereafter finally revised by the board of review of that county. Such estimate shall be forwarded by the Department
to
the County Clerk of any County within 15 days after the chief county
assessment officer files with the Department an abstract of the assessments
of the locally assessed property in the county, as finally
revised. The abstract shall be in substantially the same form as
required of the County Clerk by Sections 9-250 and 9-255 after
completion of the revisions thereafter to be made by the board of review of the
county, except that the abstract shall
specify separately the amount of omitted property, and the amount of
improvements upon property assessed for the first time in that year.
The chief county assessment officer shall forward the abstract to the
Department within 30 days after returning the county assessment books to the
county board of review.
(Source: P.A. 91-555, eff. 1-1-00.)
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35 ILCS 200/17-20
(35 ILCS 200/17-20)
Sec. 17-20. Hearing on tentative equalization factor. The Department
shall, after publishing its tentative equalization factor and giving notice
of hearing to the public in a newspaper of general circulation in the county,
hold a hearing on its estimate not less than 10 days nor more than 30 days from
the date of the publication. The notice shall state the provided hearing platform and accessibility instructions, date, and time of the
hearing, the basis for
the estimate of the Department, and further information as the Department may
prescribe. The Department shall, after giving a hearing to all interested
parties and opportunity for submitting testimony and evidence in support of or
adverse to the estimate as the Department considers requisite, either confirm
or revise the estimate so as to correctly represent the considered judgment of
the Department respecting the estimated percentage to be added to or deducted
from the aggregate assessment of all locally assessed property in the county
except property assessed under Sections 10-110 through 10-140 or 10-170 through
10-200. Within 30 days after the conclusion of the hearing the Department
shall mail to the County Clerk, by certified mail, its determination with
respect to such estimated percentage to be added to or deducted from the
aggregate assessment.
(Source: P.A. 102-1019, eff. 1-1-23 .)
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