State of Illinois
91st General Assembly
Legislation

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[ Engrossed ][ Enrolled ][ Senate Amendment 001 ]

91_HB2180

 
                                               LRB9103277PTpk

 1        AN ACT to amend the Property Tax Code by changing Section
 2    1-55.

 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 changing
 6    Section 1-55 as follows:

 7        (35 ILCS 200/1-55)
 8        Sec. 1-55.  33 1/3%.  "33 1/3%" means  one-third  of  the
 9    fair   cash   value   of   property,  as  determined  by  the
10    Department's sales ratio studies for the 3 most recent  years
11    preceding  the assessment year, adjusted to take into account
12    any changes in assessment levels implemented since  the  data
13    for the studies were collected.
14    (Source: P.A. 86-1481; 87-877; 88-455.)

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