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91_HB2121
LRB9103931PTpk
1 AN ACT to amend the Property Tax Code by adding Section
2 16-67 and changing Section 16-95.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Property Tax Code is amended by adding
6 Section Section 16-67 and changing Section 16-95 as follows:
7 (35 ILCS 200/16-67 new)
8 Sec. 16-67. Median assessment level. In counties
9 containing 3,000,000 or more inhabitants, the board of review
10 shall act as an equalizing authority. The board shall lower
11 or raise the total assessed value of a class of property with
12 at least 25 sales in the previous taxable year in any
13 township within the county so that the property, other than
14 farmland, will be assessed uniformly within the class.
15 By means of a comparison of the Department of Revenue's
16 sales ratio study for the previous fiscal year as equalized
17 and adjusted, assessed valuations and estimated fair cash
18 values established through the analysis of property
19 transfers, property appraisals, information as may be
20 submitted by assessors, interested taxing bodies, and
21 taxpayers, and other means as it deems proper and reasonable,
22 the board shall annually ascertain and determine the
23 percentage relationship for each township of the county,
24 between the valuations at which locally-assessed property,
25 other than farmland, is listed by the county assessor and the
26 median assessment level for the same class of property in the
27 county as a whole.
28 With the ratio so ascertained and determined for each
29 township, the board shall then ascertain the amount to be
30 added or deducted from the aggregate assessment for each
31 class of property in each township, other than farmland, in
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1 order to produce an assessment level for that class of
2 property in that township equal to the median assessment
3 level for that class of property in the county as a whole for
4 the same assessment year.
5 The board shall complete the equalization of assessments
6 for the various townships within the county by the date
7 prescribed in Section 16-150 for the board's adjournment, and
8 shall, within 10 days after adjournment, report the results
9 of its work under this Section to the Department. If the
10 board fails to make the report to the Department within the
11 required time, or if the report discloses that the board has
12 failed to make a proper and adequate equalization of
13 assessments, then the Department shall direct, determine, and
14 supervise the assessment for taxation of all real property to
15 the end that all assessments of property be made relatively
16 just and equal as provided in Section 8-5. For the purposes
17 of this Section, township includes inactive townships within
18 any municipality of 1,000,000 or more inhabitants. The
19 board's equalization may be appealed to the Property Tax
20 Appeal Board.
21 (35 ILCS 200/16-95)
22 Sec. 16-95. Powers and duties of board of appeals or
23 review; Complaints. In counties with 3,000,000 or more
24 inhabitants, until the first Monday in December 1998, the
25 board of appeals in any year shall, on complaint that any
26 property is overassessed or underassessed, or is exempt,
27 review and order the assessment corrected.
28 Beginning the first Monday in December 1998 and
29 thereafter, in counties with 3,000,000 or more inhabitants,
30 the board of review:
31 (1) shall, upon written complaint of any taxpayer,
32 or any taxing district that has an interest in the
33 assessment, and upon good cause shown, revise, correct,
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1 alter, or modify any assessment (or part of an
2 assessment) of any real property; nothing in this
3 Section, however, shall be construed to require a
4 taxpayer to file a complaint with the board; and
5 (2) may, upon written motion of any one or more
6 members of the board that is made on or before the dates
7 specified in notices given under Section 16-110 for each
8 township and upon good cause shown, revise, correct,
9 alter, or modify any assessment (or part of an
10 assessment) of real property regardless of whether the
11 taxpayer or owner of the property has filed a complaint
12 with the board; and.
13 (3) shall equalize a class of property in a
14 township to a median assessment level according to
15 Section 16-67.
16 An assessment shall not be increased until the person to
17 be affected has been notified and given an opportunity to be
18 heard. Before making any reduction in assessments of its own
19 motion, the board shall give notice to the assessor or chief
20 county assessment officer who certified the assessment, and
21 give the assessor or chief county assessment officer an
22 opportunity to be heard thereon. All taxing districts shall
23 have an opportunity to be heard on the matter.
24 (Source: P.A. 88-455; 89-126, eff. 7-11-95; 89-671, eff.
25 8-14-96.)
26 Section 99. Effective date. This Act takes effect upon
27 becoming law.