Comments: IL SB1379 | 2019-2020 | 101st General Assembly

Bill Title: Amends the Property Tax Code. Provides that, in counties with 3,000,000 or more inhabitants, taxpayers of income producing property shall submit income and expense data related to the property annually to the chief county assessment officer. Provides that, in counties with fewer than 3,000,000 inhabitants, the county board may provide by resolution that taxpayers of income producing property shall submit income and expense data annually to the chief county assessment officer. Provides that, when determining the value of property for assessment purposes, the assessor may consider all relevant information pertaining to the fair cash value of the property, including, but not limited to, income and expense data, sales data, property characteristics data, construction cost data, appraisals, and other valuation information. Effective immediately.

Spectrum: Partisan Bill (Democrat 56-0)

Status: (Engrossed) 2019-05-29 - Added Alternate Co-Sponsor Rep. Jehan Gordon-Booth [SB1379 Detail]

Text: Latest bill text (Engrossed) [HTML]

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