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Illinois Compiled Statutes - Full Text
Illinois Compiled Statutes (ILCS)
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(35 ILCS 200/10-125)
Sec. 10-125.
Assessment level by type of farmland.
Cropland, permanent
pasture and other farmland shall be defined according to U.S. Census Bureau
definitions in use during that assessment year and assessed in the following
way:
(a) Cropland shall be assessed in accordance with the | ||
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(b) Permanent pasture shall be assessed at 1/3 of its | ||
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(c) Other farmland shall be assessed at 1/6 of its | ||
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(d) Wasteland shall be assessed on its contributory | ||
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In no case shall the equalized assessed value of permanent pasture be below
1/3, nor the equalized assessed value of other farmland, except wasteland, be
below 1/6, of the equalized assessed value per acre of cropland of the lowest
productivity index certified under Section 10-115.
(Source: P.A. 86-954; 88-455.)
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