Public Act 90-0704 of the 90th General Assembly
Public Act 90-0704
HB3025 Enrolled LRB9008705KDpc
AN ACT to amend the Property Tax Code by changing Section
15-180.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Property Tax Code is amended by changing
Section 15-180 as follows:
(35 ILCS 200/15-180)
Sec. 15-180. Homestead improvements. Homestead
properties that have been improved and residential structures
on homestead property that have been rebuilt following a
catastrophic event are entitled to a homestead improvement
exemption, limited to $30,000 per year through December 31,
1997, and $45,000 beginning January 1, 1998 and thereafter,
in fair cash value, when that property is owned and used
exclusively for a residential purpose and upon demonstration
that a proposed increase in assessed value is attributable
solely to a new improvement of an existing structure or the
rebuilding of a residential structure following a
catastrophic event. To be eligible for an exemption under
this Section after a catastrophic event, the residential
structure must be rebuilt within 2 years after the
catastrophic event. The exemption for rebuilt structures
under this Section applies to the increase in value of the
rebuilt structure over the value of the structure before the
catastrophic event. The amount of the exemption shall be
limited to the fair cash value added by the new improvement
or rebuilding and shall continue for 4 years from the date
the improvement or rebuilding is completed and occupied, or
until the next following general assessment of that property,
whichever is later.
A proclamation of disaster by the President of the United
States or Governor of the State of Illinois is not a
prerequisite to the classification of an occurrence as a
catastrophic event under this Section. A "catastrophic
event" may include an occurrence of widespread or severe
damage or loss of property resulting from any catastrophic
cause including but not limited to fire, including arson
(provided the fire was not caused by the willful action of an
owner or resident of the property), flood, earthquake, wind,
storm, explosion, or extended periods of severe inclement
weather. In the case of a residential structure affected by
flooding, the structure shall not be eligible for this
homestead improvement exemption unless it is located within a
local jurisdiction which is participating in the National
Flood Insurance Program.
In counties of less than 3,000,000 inhabitants, in
addition to the notice requirement under Section 12-30, a
supervisor of assessments, county assessor, or township or
multi-township assessor responsible for adding an assessable
improvement to a residential property's assessment shall
either notify a taxpayer whose assessment has been changed
since the last preceding assessment that he or she may be
eligible for the exemption provided under this Section or
shall grant the exemption automatically.
Beginning January 1, 1999, in counties of 3,000,000 or
more inhabitants, an application for a homestead improvement
exemption for a residential structure that has been rebuilt
following a catastrophic event must be submitted to the Chief
County Assessment Officer with a valuation complaint and a
copy of the building permit to rebuild the structure. The
Chief County Assessment Officer may require additional
documentation which must be provided by the applicant.
(Source: P.A. 88-455; 89-595, eff. 1-1-97; 89-690, eff.
6-1-97; 90-14, eff. 7-1-97; 90-186, eff. 7-24-97; revised
10-15-97)
Section 99. Effective date. This Act takes effect upon
becoming law.