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91_HB2121 LRB9103931PTpk 1 AN ACT to amend the Property Tax Code by adding Section 2 16-67 and changing Section 16-95. 3 Be it enacted by the People of the State of Illinois, 4 represented in the General Assembly: 5 Section 5. The Property Tax Code is amended by adding 6 Section Section 16-67 and changing Section 16-95 as follows: 7 (35 ILCS 200/16-67 new) 8 Sec. 16-67. Median assessment level. In counties 9 containing 3,000,000 or more inhabitants, the board of review 10 shall act as an equalizing authority. The board shall lower 11 or raise the total assessed value of a class of property with 12 at least 25 sales in the previous taxable year in any 13 township within the county so that the property, other than 14 farmland, will be assessed uniformly within the class. 15 By means of a comparison of the Department of Revenue's 16 sales ratio study for the previous fiscal year as equalized 17 and adjusted, assessed valuations and estimated fair cash 18 values established through the analysis of property 19 transfers, property appraisals, information as may be 20 submitted by assessors, interested taxing bodies, and 21 taxpayers, and other means as it deems proper and reasonable, 22 the board shall annually ascertain and determine the 23 percentage relationship for each township of the county, 24 between the valuations at which locally-assessed property, 25 other than farmland, is listed by the county assessor and the 26 median assessment level for the same class of property in the 27 county as a whole. 28 With the ratio so ascertained and determined for each 29 township, the board shall then ascertain the amount to be 30 added or deducted from the aggregate assessment for each 31 class of property in each township, other than farmland, in -2- LRB9103931PTpk 1 order to produce an assessment level for that class of 2 property in that township equal to the median assessment 3 level for that class of property in the county as a whole for 4 the same assessment year. 5 The board shall complete the equalization of assessments 6 for the various townships within the county by the date 7 prescribed in Section 16-150 for the board's adjournment, and 8 shall, within 10 days after adjournment, report the results 9 of its work under this Section to the Department. If the 10 board fails to make the report to the Department within the 11 required time, or if the report discloses that the board has 12 failed to make a proper and adequate equalization of 13 assessments, then the Department shall direct, determine, and 14 supervise the assessment for taxation of all real property to 15 the end that all assessments of property be made relatively 16 just and equal as provided in Section 8-5. For the purposes 17 of this Section, township includes inactive townships within 18 any municipality of 1,000,000 or more inhabitants. The 19 board's equalization may be appealed to the Property Tax 20 Appeal Board. 21 (35 ILCS 200/16-95) 22 Sec. 16-95. Powers and duties of board of appeals or 23 review; Complaints. In counties with 3,000,000 or more 24 inhabitants, until the first Monday in December 1998, the 25 board of appeals in any year shall, on complaint that any 26 property is overassessed or underassessed, or is exempt, 27 review and order the assessment corrected. 28 Beginning the first Monday in December 1998 and 29 thereafter, in counties with 3,000,000 or more inhabitants, 30 the board of review: 31 (1) shall, upon written complaint of any taxpayer, 32 or any taxing district that has an interest in the 33 assessment, and upon good cause shown, revise, correct, -3- LRB9103931PTpk 1 alter, or modify any assessment (or part of an 2 assessment) of any real property; nothing in this 3 Section, however, shall be construed to require a 4 taxpayer to file a complaint with the board;
and5 (2) may, upon written motion of any one or more 6 members of the board that is made on or before the dates 7 specified in notices given under Section 16-110 for each 8 township and upon good cause shown, revise, correct, 9 alter, or modify any assessment (or part of an 10 assessment) of real property regardless of whether the 11 taxpayer or owner of the property has filed a complaint 12 with the board; and .13 (3) shall equalize a class of property in a 14 township to a median assessment level according to 15 Section 16-67. 16 An assessment shall not be increased until the person to 17 be affected has been notified and given an opportunity to be 18 heard. Before making any reduction in assessments of its own 19 motion, the board shall give notice to the assessor or chief 20 county assessment officer who certified the assessment, and 21 give the assessor or chief county assessment officer an 22 opportunity to be heard thereon. All taxing districts shall 23 have an opportunity to be heard on the matter. 24 (Source: P.A. 88-455; 89-126, eff. 7-11-95; 89-671, eff. 25 8-14-96.) 26 Section 99. Effective date. This Act takes effect upon 27 becoming law.
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