Illinois Compiled Statutes
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35 ILCS 200/10-300
(35 ILCS 200/10-300)
Veterans organization assessment freeze.
(a) For the taxable year 2000 and thereafter, the assessed value of real
property owned and used by a veterans organization chartered under federal law,
on which is located the principal building for the post, camp, or chapter, and, for taxable years 2004 and thereafter, the assessed value of real property owned by such an organization and used by the organization's members and guests for parking at the principal building for the post, camp, or chapter, must
be frozen by the chief county assessment officer at (i) 15%
of the 1999 assessed value of the property for property that qualifies for the
assessment freeze in taxable year 2000 or (ii) 15% of the assessed value of the
property for the taxable year that the property first qualifies for the
assessment freeze after taxable year 2000. If, in any year, improvements or
additions are made to the property that would increase the assessed value of
the property were it not for this Section, then 15% of the assessed value of
such improvements shall be added to the assessment of the property for that
year and all subsequent years the property is eligible for the freeze.
(b) The veterans organization must annually submit an application to the
chief county assessment officer on or before (i) January 31 of the assessment
year in counties with a population of 3,000,000 or more and (ii) December 31 of
the assessment year in all other counties. The initial application must
contain the information required by the Department of Revenue, including (i)
a copy of the organization's congressional charter, (ii) the location or
description of the property on which is located the principal building for
the post, camp, or chapter, (iii) a written instrument evidencing that the
organization is the record owner or has a legal or equitable interest in the
property, (iv) an affidavit that the organization is liable for paying the real
property taxes on the property, and (v) the signature of the organization's
chief presiding officer. Subsequent applications shall include any changes in
the initial application and shall be signed by the organization's chief
presiding officer. All applications shall be notarized.
(c) This Section shall not apply to parcels exempt under Section 15-145.
(Source: P.A. 92-16, eff. 6-28-01; 93-753, eff. 7-16-04.)