102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB0567

 

Introduced 2/8/2021, 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

 

HB0567LRB102 10085 HLH 15405 b

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
10the development of the subdivided property with streets,
11sidewalks, curbs, gutters, sewer, water and utility lines
12shall not increase the assessed valuation of all or any part of
13the property, 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
10Section shall no longer apply in determining the assessed
11valuation of the lot, (ii) each lot shall be assessed without
12regard to any provision of this Section, and (iii) the
13assessed valuation of the remaining property, when next
14determined, shall be reduced proportionately to reflect the
15exclusion of the property that no longer qualifies for
16valuation under this Section. Holding or offering a platted
17lot for initial sale shall not constitute a use of the lot for
18business, commercial or residential purposes unless a
19habitable structure is situated on the lot or unless the lot is
20otherwise used for a business, commercial or residential
21purpose.
22    (d) This Section applies before August 14, 2009 (the
23effective date of Public Act 96-480) this amendatory Act of
24the 96th General Assembly and then applies again from
25beginning January 1, 2012 through December 31, 2018 and again
26on and after January 1, 2024.

 

 

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1(Source: P.A. 95-135, eff. 1-1-08; 96-480, eff. 8-14-09.)
 
2    (35 ILCS 200/10-31)
3    Sec. 10-31. Subdivisions; counties of less than 3,000,000.
4    (a) In counties with less than 3,000,000 inhabitants, the
5platting and subdivision of property into separate lots and
6the development of the subdivided property with streets,
7sidewalks, curbs, gutters, sewer, water and utility lines
8shall not increase the assessed valuation of all or any part of
9the property, if:
10        (1) The property is platted and subdivided in
11    accordance with the Plat Act;
12        (2) The platting occurs after January 1, 1978;
13        (3) At the time of platting the property is in excess
14    of 5 acres; and
15        (4) At the time of platting or replatting the property
16    is vacant or used as a farm as defined in Section 1-60.
17    (b) Except as provided in subsection (c) of this Section,
18the assessed valuation of property so platted and subdivided
19shall be determined based on the assessed value assigned to
20the property when last assessed prior to its last transfer or
21conveyance. An initial sale of any platted lot, including a
22lot that is vacant, or a transfer to a holder of a mortgage, as
23defined in Section 15-1207 of the Code of Civil Procedure,
24pursuant to a mortgage foreclosure proceeding or pursuant to a
25transfer in lieu of foreclosure, does not disqualify that lot

 

 

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1from the provisions of this subsection (b).
2    (c) Upon completion of a habitable structure on any lot of
3subdivided property, or upon the use of any lot, either alone
4or in conjunction with any contiguous property, for any
5business, commercial or residential purpose: (i) the
6provisions of subsection (b) of this Section shall no longer
7apply in determining the assessed valuation of the lot, (ii)
8each lot shall be assessed without regard to any provision of
9this Section, and (iii) the assessed valuation of the
10remaining property, when next determined, shall be reduced
11proportionately to reflect the exclusion of the property that
12no longer qualifies for valuation under this Section. Holding
13or offering a platted lot for initial sale shall not
14constitute a use of the lot for business, commercial or
15residential purposes unless a habitable structure is situated
16on the lot or unless the lot is otherwise used for a business,
17commercial or residential purpose. The replatting of a
18subdivision or portion of a subdivision does not disqualify
19the replatted lots from the provisions of subsection (b).
20    (d) This Section applies on and after August 14, 2009 (the
21effective date of Public Act 96-480) this amendatory Act of
22the 96th General Assembly and through December 31, 2011 and
23then applies again from January 1, 2019 through December 31,
242023.
25(Source: P.A. 96-480, eff. 8-14-09.)
 
26    Section 99. Effective date. This Act takes effect upon

 

 

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1becoming law.