Chapter 35 — REVENUE

(35 ILCS 200/1-55) Sec. 1-55. 33 1/3%. One-third of the fair cash value of property, as determined by the Department's sales ratio studies for the 3 most recent years preceding the assessment year, adjusted to take into account any changes in assessment levels implemented since t…

(35 ILCS 200/1-60) Sec. 1-60. Farm. When used in connection with valuing land and buildings for an agricultural use, any property used solely for the growing and harvesting of crops; for the feeding, breeding and management of livestock; for dairying or for any other agricultural…

(35 ILCS 200/1-65) Sec. 1-65. General Assessment. The general assessment of property under Sections 9-215, 9-220 and 9-225. (Source: P.A. 86-1481; 87-877; 88-455.)

(35 ILCS 200/1-70) Sec. 1-70. He; him; his; she; her. Male, female, company, corporation, firm, society, singular or plural number. (Source: P.A. 86-1481; 87-877; 88-455.)

(35 ILCS 200/1-75) Sec. 1-75. Inhabitants. The residents of a taxing district as counted in the most recent finalized decennial Federal census, unless otherwise stated. (Source: P.A. 88-455.)

(35 ILCS 200/1-80) Sec. 1-80. Legal Description; Proper Description; Description. The describing of property (a) by reference to government surveys or by metes and bounds; (b) when subdivided into lots and blocks, by reference to duly recorded plats, or (c) by reference to an ind…

(35 ILCS 200/1-85) Sec. 1-85. Local Assessment Officers. County assessors, supervisors of assessment, township assessors, multi-township assessors, boards of review, and boards of appeals. (Source: P.A. 86-1481; 87-877; 88-455.)

(35 ILCS 200/1-90) Sec. 1-90. Mortgage lender. Any institution, association, partnership, corporation, or person that is engaged in this State in the business of making loans of moneys, or that regularly makes loans of moneys in this State, or that services loans, including the c…

(35 ILCS 200/1-95) Sec. 1-95. Mortgagor. An owner of property situated in any county of this State who creates a lien against the property in favor of a mortgage lender by executing a mortgage, trust deed in the nature of a mortgage or other instrument in the nature of a mortgage…

(35 ILCS 200/10-10) Sec. 10-10. Valuation of solar energy systems. When a solar energy system has been installed in improvements on any property, the owner of that property is entitled to claim, by filing with the chief county assessment officer, an alternate valuation of those i…

(35 ILCS 200/10-100) Sec. 10-100. Liability for prior year's taxes. The valuation determined under Section 10-90 shall be used for each year for which application is made and approved under Section 10-95. When any portion of the land is no longer used for airport purposes, the pe…

(35 ILCS 200/10-105) Sec. 10-105. Interstate bridges. All bridge structures across any navigable streams forming the boundary line between the State of Illinois and any other State, and not classified as operating property by any railroad operating in this State, shall be assesse…

(35 ILCS 200/10-110) Sec. 10-110. Farmland. The equalized assessed value of a farm, as defined in Section 1-60 and if used as a farm for the 2 preceding years, except tracts subject to assessment under Section 10-145, shall be determined as described in Sections 10-115 through 10…

(35 ILCS 200/10-115) Sec. 10-115. Department guidelines and valuations for farmland. The Department shall issue guidelines and recommendations for the valuation of farmland to achieve equitable assessment within and between counties. The Director of Revenue shall appoint a five-p…

(35 ILCS 200/10-120) Sec. 10-120. County Farmland Assessment Review Committee. A County Farmland Assessment Review Committee (hereafter referred to as the Committee) shall be established in each county to advise the chief county assessment officer on the interpretation and applic…

(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…

(35 ILCS 200/10-130) Sec. 10-130. Farmland valuation; counties of 3,000,000 or more. In counties with more than 3,000,000 inhabitants, the equalized assessed value per acre of farmland shall be the lesser of either 16% of the fair cash value of the farmland estimated at the price…

(35 ILCS 200/10-135) Sec. 10-135. Farmland not subject to equalization. The assessed valuation of farmland assessed under Sections 10-110 through 10-130 shall not be subject to equalization by means of State equalization factors. Equalization factors applied by a chief county ass…

(35 ILCS 200/10-140) Sec. 10-140. Other improvements. Improvements other than the dwelling, appurtenant structures and site, including, but not limited to, roadside stands and buildings used for storing and protecting farm machinery and equipment, for housing livestock or poultry…

(35 ILCS 200/10-145) Sec. 10-145. Farm dwellings. Each farm dwelling and appurtenant structures and the tract upon which they are immediately situated shall be assessed by the local assessing officials at 33 1/3% of fair cash value except that in counties that classify property f…

(35 ILCS 200/10-147) Sec. 10-147. Former farm; open space. Beginning with the 1992 assessment year, the equalized assessed value of any tract of real property that has not been used as a farm for 20 or more consecutive years shall not be determined under Sections 10-110 through 1…

(35 ILCS 200/10-15) Sec. 10-15. Condominiums and cooperatives. In counties with 200,000 or more inhabitants which classify property, condominiums occupied by the owner as a residence for a minimum of 6 months during the year and created in accordance with the provisions of the "C…

(35 ILCS 200/10-150) Sec. 10-150. Property under forestry management plan. In counties with less than 3,000,000 inhabitants, any land being managed under a forestry management plan accepted by the Department of Natural Resources under the Illinois Forestry Development Act shall b…

(35 ILCS 200/10-152) (Section scheduled to be repealed on December 31, 2026) Sec. 10-152. Vegetative filter strip assessment. (a) In counties with less than 3,000,000 inhabitants, any land (i) that is located between a farm field and an area to be protected, including but not lim…

(35 ILCS 200/10-153) Sec. 10-153. Non-clear cut assessment. Land that (i) is not located in a unit of local government with a population greater than 500,000, (ii) is located within 15 yards of waters listed by the Department of Natural Resources under Section 5 of the Rivers, La…

(35 ILCS 200/10-155) Sec. 10-155. Open space land; valuation. In all counties, in addition to valuation as otherwise permitted by law, land which is used for open space purposes and has been so used for the 3 years immediately preceding the year in which the assessment is made, u…

(35 ILCS 200/10-160) Sec. 10-160. Open space; application process. In counties with 3,000,000 or more inhabitants, the person liable for taxes on land used for open space purposes must file a verified application requesting the additional open space valuation with the chief count…

(35 ILCS 200/10-165) Sec. 10-165. Land no longer used for open space. When any portion of the land described in any application filed under Section 10-160 is no longer used for open space purposes, the person liable for taxes on that land must notify the chief county assessment o…

(35 ILCS 200/10-166) Sec. 10-166. Registered land or land encumbered by conservation rights; valuation. Except in counties with more than 200,000 inhabitants that classify property for the purpose of taxation, to the extent any portion of any lot, parcel, or tract of land is (i) …

(35 ILCS 200/10-167) Sec. 10-167. Definition of public benefit; certification. (a) A conservation right on land shall be considered to provide a demonstrated public benefit if the Department of Natural Resources certifies that it protects in perpetuity at least one of the followi…

(35 ILCS 200/10-168) Sec. 10-168. Valuation of registered land or land encumbered by conservation rights; application process. (a) The person liable for taxes on land eligible for assessment under Section 10-166 must file a verified application requesting the registered land or c…

(35 ILCS 200/10-169) Sec. 10-169. Land no longer registered or encumbered by conservation rights. (a) In the event the registration agreement or conservation right by which a portion of land has been valued under Section 10-166 is released or amended and for purposes of a conserv…

(35 ILCS 200/10-170) Sec. 10-170. Valuation of coal. The equalized assessed value of each tract of real property constituting coal shall be determined under Sections 10-175 through 10-200. (Source: P.A. 85-1359; 88-455.)

(35 ILCS 200/10-175) Sec. 10-175. Undeveloped coal. All undeveloped coal in property on which there has been no mining during the year immediately preceding the assessment date shall for the purposes of this Code have an undeveloped coal reserve economic value of no more than $75…

(35 ILCS 200/10-180) Sec. 10-180. Developed coal. Developed coal shall be assessed at 33 1/3% of the developed coal reserve economic value determined as follows: Developed Coal Reserve Economic Value equals the present value of the anticipated net income from the property during …

(35 ILCS 200/10-185) Sec. 10-185. Prorated assessment. When initial mining commences after the assessment date, or when all mining ceases prior to the end of a calendar year, the coal as assessed pursuant to Section 10-180 shall be assessed on a proportionate basis in accordance …

(35 ILCS 200/10-190) Sec. 10-190. Cessation of mining. When mining has taken place during the year immediately preceding the assessment date, but has completely ceased as of the assessment date, all remaining unmined coal shall be valued pursuant to Section 10-175. (Source: P.A. …

(35 ILCS 200/10-195) Sec. 10-195. Incremental assessment. Coal assessed under Sections 10-180 and 10-185 shall be added to the tax roll in the following increments as determined by the assessment date: 1993 - 70% of the assessed value 1994 - 80% of the assessed value 1995 - 90% o…

(35 ILCS 200/10-20) Sec. 10-20. Repairs and maintenance of residential property. Maintenance and repairs to residential property owned and used exclusively for a residential purpose shall not increase the assessed valuation of the property. For purposes of this Section, work shal…

(35 ILCS 200/10-200) Sec. 10-200. Coal not subject to State equalization. Except as provided in this Section, the assessed valuation of coal assessed under Sections 10-170 through 10-195 shall not be subject to equalization by means of State equalization factors or State multipli…

(35 ILCS 200/10-205) Sec. 10-205. Sports stadium property. For purposes of the property tax laws of this State, qualified property in municipalities with more than 2,000,000 inhabitants shall be classified and valued as set forth in Sections 10-210 through 10-220 during the perio…

(35 ILCS 200/10-210) Sec. 10-210. Definitions. For purposes of Sections 10-205, 10-215, and 10-220: (a) "Base year" means the first tax year after the tax year in which construction of the new stadium is completed. (b) "Tax year" means the calendar year for which assessed value i…

(35 ILCS 200/10-215) Sec. 10-215. Qualified property. Qualified property means: (a) a new stadium having a seating capacity in excess of 18,000 and less than 28,000 which is constructed primarily for the purpose of holding professional sports and amusement events and construction…

(35 ILCS 200/10-220) Sec. 10-220. Valuation. (a) For the base year and subsequent tax years, property described in subsection (a) of Section 10-215 shall be classified so that it is valued in relation to 20% of the property's fair cash value. The fair cash value of the property s…

(35 ILCS 200/10-223) Sec. 10-223. Former farm; open space. Beginning with the 1992 assessment year, the equalized assessed value of any tract of real property that has not been used as a farm for 20 or more consecutive years shall not be determined under Sections 10-110 through 1…

(35 ILCS 200/10-225) Sec. 10-225. Stock of nurseries. The stock of nurseries, when growing, shall be assessed as property and when severed shall be considered merchandise. (Source: Laws 1941, vol. 1, p. 1062; P.A. 88-455.)

(35 ILCS 200/10-23) Sec. 10-23. Improvements to residential property; accessibility. (a) Accessibility improvements made to residential property shall not increase the assessed valuation of the property for a period of 7 years after the improvements are completed. (b) For the pur…

(35 ILCS 200/10-230) Sec. 10-230. Creation of task force; 1997 through 1999 property assessments of certain utility property. (a) This Section establishes an Electric Utility Property Assessment Task Force to advise the General Assembly with respect to the possible impact of the …

(35 ILCS 200/10-235) Sec. 10-235. Low-income housing project valuation policy; intent. It is the policy of this State that low-income housing projects developed under Section 515 of the federal Housing Act or that qualify for the low-income housing tax credit under Section 42 of …

(35 ILCS 200/10-240) Sec. 10-240. Definition of Section 515 low-income housing projects. "Section 515 low-income housing projects" mean rental apartment facilities (i) developed and managed under a United States Department of Agriculture Rural Rental Housing Program designed to p…