Illinois Compiled Statutes
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35 ILCS 200/10-360
(35 ILCS 200/10-360)
Fraternal organization assessment freeze.
(a) For the taxable year 2003 and thereafter, the assessed value of real
property owned and used by a fraternal organization or its affiliated Illinois
not for profit corporation chartered prior to 1920 that is an exempt entity
under Section 501(c)(2), 501(c)(8) or 501(c)(10) of the
Internal Revenue Code and
whose members provide, directly or indirectly, financial support for
charitable works, which may include medical care, drug rehabilitation, or
education, shall be established by the chief county assessment officer as
(1) if the property meets the qualifications set
forth in this Section on January 1, 2003 and on January 1 of each subsequent assessment year, for assessment year 2003 and each subsequent assessment year, the final assessed value of the property shall be 15% of the final assessed value of the property for the assessment year 2002; or
(2) if the property first meets the qualifications
set forth in this Section on January 1 of any assessment year after assessment year 2003 and on January 1 of each subsequent assessment year, for that first assessment year and each subsequent assessment year, the final assessed value shall be 15% of the final assessed value of the property for the assessment year in which the property first meets the qualifications set forth in this Section.
If, in any year, additions or improvements are made to property subject to
assessment under this Section and the additions or improvements would increase
the assessed value of the property, then 15% of the final assessed value of the
additions or improvements shall be added to the final assessed value of the
property for the year in which the additions or improvements are completed and
for all subsequent years that the property is eligible for assessment under
(b) For purposes of this Section, "final assessed value" means the assessed
value after final board of review action.
(c) Fraternal organizations or their affiliated not for profit corporations
whose property is assessed under this Section
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, which shall prepare the form, including:
(1) the location or legal description of the property
on which is located the principal building for the organization, including the PIN number, if available;
(2) a written instrument evidencing that the
organization or not for profit corporation is the record owner or has a legal or equitable interest in the property;
(3) an affidavit that the organization or not for
profit corporation is liable for paying the real property taxes on the property; and
(4) the signature of the organization's or not for
profit corporation's chief presiding officer.
Subsequent applications shall include any changes in the initial application
and shall affirm the ownership, use, and liability for taxes for the year in
which it is submitted. All applications shall be notarized.
(d) This Section does not apply to parcels exempt from property taxes under
(Source: P.A. 92-859, eff. 1-3-03.)