summary
Introduced
01/08/2026
01/08/2026
In Committee
01/14/2026
01/14/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Property Tax Code. In provisions concerning appraisals, provides that the appraisals submitted by the owner and occupant of the property must be prepared for ad valorem purposes, must estimate the value of the property as of January 1 of the assessment year at issue, and must comply with all rules of the chief county assessment officer or the board of review concerning the submission of appraisals. Provides that, if the chief county assessment officer renders a decision lowering the assessed valuation of the property, the county shall reimburse the property owner for the cost of the appraisal.
AI Summary
This bill, starting with the 2027 assessment year, allows the owner and occupant of a single-family residence in counties with 3,000,000 or more inhabitants to submit an appraisal report prepared by an Illinois Certified Real Estate Appraiser to support a request for a revision or correction of their property's assessed valuation. These appraisals must be prepared for ad valorem purposes, meaning they are intended to estimate the property's value for tax purposes, and must reflect the property's value as of January 1 of the assessment year. The appraisals must also follow the rules set by the chief county assessment officer or the board of review for submission. If the chief county assessment officer or the board of review decides to lower the property's assessed valuation based on such an appraisal, the county will reimburse the property owner for the cost of that appraisal.
Sponsors (1)
Last Action
Referred to Rules Committee (on 01/14/2026)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
Loading...