(35 ILCS 200/9-95)
Listing of property.
All property subject to taxation under this
Code, including property becoming taxable for the first time, shall be listed
by the proper legal description in the name of the owner, and assessed at the
times and in the manner provided in Sections 9-215 through 9-225, and also in
any year that the Department orders a reassessment (to the extent the
reassessment is so ordered), with reference to the amount owned on January 1 in
the year for which it is assessed, including all property purchased that day.
The assessment, as modified or equalized or changed as provided by law, shall
be the assessment upon which taxes shall be levied and extended during the
general assessment period for which the assessment is made, or during
the remainder of that general assessment period for any property reassessed
by order of the Department. No assessment shall be considered illegal by reason
of not having been listed or assessed in the name of the owner or owners.
(Source: P.A. 85-1221; 86-1481; 88-455.)