Bill Title: Amends the Property Tax Code. Provides that, prior to the initial sale of any platted lot, the assessed valuation of platted and subdivided property shall be the assessed value assigned to the property when last assessed prior to its last transfer or conveyance (currently, the estimated price the property would bring at a fair voluntary sale for use by the buyer for the same purposes for which the property was used when last assessed prior to its platting). Provides that the changes made by the amendatory Act apply from January 1, 2019 through December 31, 2023. Makes other changes. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2021-03-27 - Rule 19(a) / Re-referred to Rules Committee [HB0567 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2021-02-03	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB0567

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB0567 currently on file.

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