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105 ILCS 5/11C-1

(105 ILCS 5/11C-1) (from Ch. 122, par. 11C-1)

Sec. 11C-1.

Appraisers.

The regional superintendent shall appoint one
or more appraisers to appraise all the tangible school property in the
district from which territory has been taken and the tangible school property
in such territory transferred.  An appraiser or appraisers may be appointed
to appraise all such school property or one or more appraisers may be appointed
to appraise the different kinds of property as the regional superintendent
may direct.  No appraiser shall be a resident of any district which is a
party to the accounting.  The costs of the appraisal shall be borne by the
districts in the ratio in which they share in the assets appraised.

(Source: P.A. 83-686.)

105 ILCS 5/11C-2

(105 ILCS 5/11C-2) (from Ch. 122, par. 11C-2)

Sec. 11C-2.

Appraisal guide.

In making such appraisal land shall be
appraised at its fair market value; other property shall be appraised at
its reproduction or replacement cost less depreciation and an allowance
for obsolescence, if any, but in no event shall any property be appraised
at more than its value for school purposes in the district in which it lies
after the change in boundaries or its resale value whichever is the higher.

(Source: P.A. 83-686.)