093_HB3911

 
                                     LRB093 13381 SJM 18681 b

 1        AN ACT concerning taxes.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.  The Property Tax Code is amended by changing
 5    Section 9-180 as follows:

 6        (35 ILCS 200/9-180)
 7        Sec. 9-180.  Pro-rata valuations; improvements or removal
 8    of  improvements.  The  owner  of  property on January 1 also
 9    shall be liable, on a proportionate basis, for the  increased
10    taxes   occasioned  by  the  construction  of  new  or  added
11    buildings, structures or other improvements on  the  property
12    from  the  date  when the occupancy permit was issued or from
13    the date the new or added improvement was inhabitable and fit
14    for occupancy or for intended customary use to December 31 of
15    that year. The owner of the improved  property  shall  notify
16    the  assessor, within 30 days of the issuance of an occupancy
17    permit or within 30 days of completion of  the  improvements,
18    on  a  form prescribed by that official, and request that the
19    property  be  reassessed.    The  notice  shall  be  sent  by
20    certified mail, return receipt requested  and  shall  include
21    the legal description of the property.
22        If,  upon  making  his or her assessment in any year, the
23    assessor  determines  that  land  that  is  assessed  without
24    improvement is in the  process  of  being  improved  and  the
25    assessor  determines that the improvement will be inhabitable
26    and fit for occupancy on or before December 31 of that  year,
27    he or she may estimate the assessed value of the property for
28    that year including a pro-rata increase in the assessed value
29    of  the  property  as  a  result  of  the improvements to the
30    property. The  property  owner  who  disputes  the  estimated
31    assessed  value  of the property may appeal the assessment as
 
                            -2-      LRB093 13381 SJM 18681 b
 1    otherwise provided in this Code.
 2        When, during the previous calendar year,  any  buildings,
 3    structures   or  other  improvements  on  the  property  were
 4    destroyed and rendered uninhabitable or otherwise  unfit  for
 5    occupancy or for customary use by accidental means (excluding
 6    destruction  resulting  from  the  willful  misconduct of the
 7    owner of such property), the owner of the property on January
 8    1  shall  be  entitled,  on  a  proportionate  basis,  to   a
 9    diminution of assessed valuation for such period during which
10    the improvements were uninhabitable or unfit for occupancy or
11    for  customary  use.  The  owner  of  property  entitled to a
12    diminution of assessed valuation shall, on a form  prescribed
13    by  the assessor, within 90 days after the destruction of any
14    improvements  or,  in  counties  with  less  than   3,000,000
15    inhabitants   within   90   days   after   the   township  or
16    multi-township assessor has mailed the  application  form  as
17    required  by  Section  9-190,  file with the assessor for the
18    decrease of assessed valuation. Upon failure so to do  within
19    the  90 day period, no diminution of assessed valuation shall
20    be attributable to the property.
21        Computations under this Section shall be on the basis  of
22    a year of 365 days.
23    (Source: P.A. 91-486, eff. 1-1-00.)

24        Section  99.  Effective date.  This Act takes effect upon
25    becoming law.