Bill Text: IL HB3573 | 2023-2024 | 103rd General Assembly | Introduced

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Bill Title: Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Requires the Department of Revenue to conduct a property tax assessment process study. Amends the Property Tax Code. Limits the increase in the assessment of any commercial or residential property to 15% over the assessed value in the previous tax year and 40% in any 3-year period. Provides that the limitation shall apply in counties with 3,000,000 or more inhabitants and may apply in other counties by ordinance or resolution of the county board. Provides that, in counties with 3,000,000 or more inhabitants, whenever the chief county assessment officer of the county substantively changes the procedure by which he or she assesses properties, the chief county assessment officer shall hold a 60-day public comment period to receive input from members of the public before the change takes effect.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2023-02-17 - Referred to Rules Committee [HB3573 Detail]

Download: Illinois-2023-HB3573-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3573 Introduced , by Rep. Eva-Dina Delgado SYNOPSIS AS INTRODUCED:
New Act
20 ILCS 2505/2505-810 new
35 ILCS 200/9-151 new
35 ILCS 200/12-36 new
Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Requires the Department of Revenue to conduct a property tax assessment process study. Amends the Property Tax Code. Limits the increase in the assessment of any commercial or residential property to 15% over the assessed value in the previous tax year and 40% in any 3-year period. Provides that the limitation shall apply in counties with 3,000,000 or more inhabitants and may apply in other counties by ordinance or resolution of the county board. Provides that, in counties with 3,000,000 or more inhabitants, whenever the chief county assessment officer of the county substantively changes the procedure by which he or she assesses properties, the chief county assessment officer shall hold a 60-day public comment period to receive input from members of the public before the change takes effect.
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A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 1. Short Title. This Act may be referred to as the
Save Our Businesses and Homes Act.
Section 5. The Department of Revenue Law of the Civil
Administrative Code of Illinois is amended by adding Section
2505-810 as follows:
(20 ILCS 2505/2505-810 new)
Sec. 2505-810. Property tax assessment process study. The
Department shall conduct a study and analyze any information
collected to determine the level of fairness and equity in the
property tax assessment processes in the State. The study
shall focus primarily on the following:
(1) conducting a comprehensive review of the
classification system utilized by Cook County for purposes
of assessing real property in Cook County compared with
the rest of the State, including, but not limited to, a
projection of the impact, if any, that the assessment of
real property in Cook County would exhibit were the
classification system to be phased-out and transitioned to
a uniform level of assessment and the impact, if any, that

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the Cook County classification system has or has had on
economic development or job creation in the county;
(2) conducting a comprehensive review of State laws
relating to the assessment of real property, including the
appeal of assessments at the local and State level;
(3) conducting a comprehensive review of statewide
assessment systems or computer assisted mass appraisal
systems;
(4) conducting a comprehensive review of current
exemptions available, the impact of these exemptions, and
the administration or application of these exemptions;
(5) analyzing preferential assessments, including, but
not limited to, the resultant economic impact from
preferential assessments; and
(6) discussing the use of technology in the data
collection, online review, CAMA analysis, and electronic
appeal filing that may result in improved accountability
and efficiency.
The Department shall consult with Illinois institutions of
higher education having knowledge about the Illinois
assessment processes in conducting the study under this
Section. The Department shall complete a preliminary version
of the report by May 31, 2024 and shall complete a final
version of the report by July 1, 2024. The Department shall
submit the final version of the report to the Governor and the
General Assembly by July 1, 2024. A copy of both the

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preliminary version of the report and the final version of the
report shall be made available to the public via electronic
means. The Department may allow for the submission of public
comments from individuals, organizations, or associations
representing residential property owners, commercial property
owners, or labor unions in Illinois. If the Department allows
for the submission of public comments, the Department shall
publish via electronic means any and all materials submitted
to the Department.
This Section is repealed on December 31, 2024.
Section 10. The Property Tax Code is amended by adding
Sections 9-151 and 12-36 as follows:
(35 ILCS 200/9-151 new)
Sec. 9-151. Limitation on increases of assessed value on
commercial and residential property.
(a) In counties with 3,000,000 or more inhabitants,
beginning with tax year 2023, the chief county assessment
officer of the county shall not increase the assessed value of
any commercial property or residential property by more than
15% over the assessed value in the previous tax year and shall
not increase such assessment by more than 40% in any 3-year
period. In counties with fewer than 3,000,000 inhabitants, the
county board may provide, by ordinance or resolution, that the
provisions of this Section are applicable to that county.

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(b) The limitation set forth in this Section does not
apply to the following:
(1) the assessed value of additions or improvements to
real property in the year those additions or improvements
are first subject to property tax;
(2) the assessed value of real property when a
transfer of ownership has occurred in the year that the
transfer is first subject to property tax;
(3) the assessed value of any real property that has
been reclassified in the year or years following the
reclassification of the property;
(4) when the assessed value increase is due to the
expiration of an incentive classification;
(5) the assessed value of real property that has been
granted a vacancy reduction in the year or years
immediately preceding the year a commercial property
becomes subject to the provisions of this Section; or
(6) the assessed value of commercial property when
there is a technical error in the assessment that is
corrected by the chief county assessment officer of the
county in the year a commercial property becomes subject
to the provisions of this Section.
(c) The limitation provided for under this Section must be
calculated on the land and the improvements as a whole.
(d) Nothing in this Section shall prevent a chief county
assessment officer from reclassifying property as necessary.

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(e) For purposes of this Section:
"Commercial property" means real property that is owned
for the purpose of generating income from the property itself,
whether or not such property actually generates income in a
particular year.
"Residential property" means real property that is
occupied by its owner or owners as his, hers, or their
principal dwelling place, or that is a leasehold interest on
which a single family residence is situated, which is occupied
as a residence by a person who has an ownership interest
therein, legal or equitable or as a lessee, and on which the
person is liable for the payment of property taxes.
(35 ILCS 200/12-36 new)
Sec. 12-36. Public comment period for substantive
assessment process change. Beginning in tax year 2023, in
counties with 3,000,000 or more inhabitants, whenever the
chief county assessment officer of the county substantively
changes the procedure by which he or she assesses properties,
the chief county assessment officer shall hold a 60-day public
comment period to receive input from members of the public
before the change takes effect.
Section 99. Effective date. This Act takes effect upon
becoming law.