101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB3600

 

Introduced , by Rep. Sam Yingling

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/10-30
35 ILCS 200/10-31

    Amends the Property Tax Code. Provides that, prior to the initial sale of any platted lot, the assessed valuation of platted and subdivided property shall be the assessed value assigned to the property when last assessed prior to its last transfer or conveyance (currently, the estimated price the property would bring at a fair voluntary sale for use by the buyer for the same purposes for which the property was used when last assessed prior to its platting). Provides that the changes made by the amendatory Act apply from January 1, 2019 through December 31, 2023. Makes other changes. Effective immediately.


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FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

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1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Property Tax Code is amended by changing
5Sections 10-30 and 10-31 as follows:
 
6    (35 ILCS 200/10-30)
7    Sec. 10-30. Subdivisions; counties of less than 3,000,000.
8    (a) In counties with less than 3,000,000 inhabitants, the
9platting and subdivision of property into separate lots and the
10development of the subdivided property with streets,
11sidewalks, curbs, gutters, sewer, water and utility lines shall
12not increase the assessed valuation of all or any part of the
13property, if:
14        (1) The property is platted and subdivided in
15    accordance with the Plat Act;
16        (2) The platting occurs after January 1, 1978;
17        (3) At the time of platting the property is in excess
18    of 5 acres; and
19        (4) At the time of platting the property is vacant or
20    used as a farm as defined in Section 1-60.
21    (b) Except as provided in subsection (c) of this Section,
22the assessed valuation of property so platted and subdivided
23shall be determined each year based on the estimated price the

 

 

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1property would bring at a fair voluntary sale for use by the
2buyer for the same purposes for which the property was used
3when last assessed prior to its platting.
4    (c) Upon completion of a habitable structure on any lot of
5subdivided property, or upon the use of any lot, either alone
6or in conjunction with any contiguous property, for any
7business, commercial or residential purpose, or upon the
8initial sale of any platted lot, including a platted lot which
9is vacant: (i) the provisions of subsection (b) of this Section
10shall no longer apply in determining the assessed valuation of
11the lot, (ii) each lot shall be assessed without regard to any
12provision of this Section, and (iii) the assessed valuation of
13the remaining property, when next determined, shall be reduced
14proportionately to reflect the exclusion of the property that
15no longer qualifies for valuation under this Section. Holding
16or offering a platted lot for initial sale shall not constitute
17a use of the lot for business, commercial or residential
18purposes unless a habitable structure is situated on the lot or
19unless the lot is otherwise used for a business, commercial or
20residential purpose.
21    (d) This Section applies before August 14, 2009 (the
22effective date of Public Act 96-480) this amendatory Act of the
2396th General Assembly and then applies again from beginning
24January 1, 2012 through December 31, 2018 and again on and
25after January 1, 2024.
26(Source: P.A. 95-135, eff. 1-1-08; 96-480, eff. 8-14-09.)
 

 

 

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1    (35 ILCS 200/10-31)
2    Sec. 10-31. Subdivisions; counties of less than 3,000,000.
3    (a) In counties with less than 3,000,000 inhabitants, the
4platting and subdivision of property into separate lots and the
5development of the subdivided property with streets,
6sidewalks, curbs, gutters, sewer, water and utility lines shall
7not increase the assessed valuation of all or any part of the
8property, if:
9        (1) The property is platted and subdivided in
10    accordance with the Plat Act;
11        (2) The platting occurs after January 1, 1978;
12        (3) At the time of platting the property is in excess
13    of 5 acres; and
14        (4) At the time of platting or replatting the property
15    is vacant or used as a farm as defined in Section 1-60.
16    (b) Except as provided in subsection (c) of this Section,
17the assessed valuation of property so platted and subdivided
18shall be determined based on the assessed value assigned to the
19property when last assessed prior to its last transfer or
20conveyance. An initial sale of any platted lot, including a lot
21that is vacant, or a transfer to a holder of a mortgage, as
22defined in Section 15-1207 of the Code of Civil Procedure,
23pursuant to a mortgage foreclosure proceeding or pursuant to a
24transfer in lieu of foreclosure, does not disqualify that lot
25from the provisions of this subsection (b).

 

 

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1    (c) Upon completion of a habitable structure on any lot of
2subdivided property, or upon the use of any lot, either alone
3or in conjunction with any contiguous property, for any
4business, commercial or residential purpose: (i) the
5provisions of subsection (b) of this Section shall no longer
6apply in determining the assessed valuation of the lot, (ii)
7each lot shall be assessed without regard to any provision of
8this Section, and (iii) the assessed valuation of the remaining
9property, when next determined, shall be reduced
10proportionately to reflect the exclusion of the property that
11no longer qualifies for valuation under this Section. Holding
12or offering a platted lot for initial sale shall not constitute
13a use of the lot for business, commercial or residential
14purposes unless a habitable structure is situated on the lot or
15unless the lot is otherwise used for a business, commercial or
16residential purpose. The replatting of a subdivision or portion
17of a subdivision does not disqualify the replatted lots from
18the provisions of subsection (b).
19    (d) This Section applies on and after August 14, 2009 (the
20effective date of Public Act 96-480) this amendatory Act of the
2196th General Assembly and through December 31, 2011 and then
22applies again from January 1, 2019 through December 31, 2023.
23(Source: P.A. 96-480, eff. 8-14-09.)
 
24    Section 99. Effective date. This Act takes effect upon
25becoming law.