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2005 Illinois 35 ILCS 200/      Property Tax Code. Article 10 - Valuation Procedures For Special Properties


      (35 ILCS 200/Art. 10 heading)
Article 10. Valuation Procedures for Special Properties

      (35 ILCS 200/Art. 10 Div. 1 heading)
Division 1. Solar energy systems

    (35 ILCS 200/10‑5)
    Sec. 10‑5. Solar energy systems; definitions. It is the policy of this State that the use of solar energy systems should be encouraged because they conserve nonrenewable resources, reduce pollution and promote the health and well‑being of the people of this State, and should be valued in relation to these benefits.
    (a) "Solar energy" means radiant energy received from the sun at wave lengths suitable for heat transfer, photosynthetic use, or photovoltaic use.
    (b) "Solar collector" means
        (1) An assembly, structure, or design, including
    
passive elements, used for gathering, concentrating, or absorbing direct and indirect solar energy, specially designed for holding a substantial amount of useful thermal energy and to transfer that energy to a gas, solid, or liquid or to use that energy directly; or
        (2) A mechanism that absorbs solar energy and
    
converts it into electricity; or
        (3) A mechanism or process used for gathering solar
    
energy through wind or thermal gradients; or
        (4) A component used to transfer thermal energy to a
    
gas, solid, or liquid, or to convert it into electricity.
    (c) "Solar storage mechanism" means equipment or elements (such as piping and transfer mechanisms, containers, heat exchangers, or controls thereof, and gases, solids, liquids, or combinations thereof) that are utilized for storing solar energy, gathered by a solar collector, for subsequent use.
    (d) "Solar energy system" means
        (1)(A) A complete assembly, structure, or design of
    
solar collector, or a solar storage mechanism, which uses solar energy for generating electricity or for heating or cooling gases, solids, liquids, or other materials;
        (B) The design, materials, or elements of a system
    
and its maintenance, operation, and labor components, and the necessary components, if any, of supplemental conventional energy systems designed or constructed to interface with a solar energy system; and
        (C) Any legal, financial, or institutional orders,
    
certificates, or mechanisms, including easements, leases, and agreements, required to ensure continued access to solar energy, its source, or its use in a solar energy system, and including monitoring and educational elements of a demonstration project.
        (2) "Solar energy system" does not include
            (A) Distribution equipment that is equally
        
usable in a conventional energy system except for those components of the equipment that are necessary for meeting the requirements of efficient solar energy utilization; and
            (B) Components of a solar energy system that
        
serve structural, insulating, protective, shading, aesthetic, or other non‑solar energy utilization purposes, as defined in the regulations of the Department of Commerce and Economic Opportunity.
        (3) The solar energy system shall conform to the
    
standards for those systems established by regulation of the Department of Commerce and Economic Opportunity.
(Source: P.A. 94‑793, eff. 5‑19‑06.)

    (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 improvements. When a claim for alternate valuation is filed, the chief county assessment officer shall ascertain the value of the improvements as if equipped with a conventional heating or cooling system and the value of the improvements as equipped with the solar energy system. So long as the solar energy system is used in total or part as the means of utilizing solar energy improvements, the alternate valuation computed as the lesser of the two values ascertained under this paragraph shall be applied. When the solar energy system so valued ceases to be used as the means of heating or cooling those improvements, the owner of that property shall within 30 days notify the chief county assessment officer in writing by certified mail.
(Source: P.A. 80‑430; 88‑455.)

      (35 ILCS 200/Art. 10 Div. 2 heading)
Division 2. Residential property

    (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 "Condominium Property Act", as well as land with improvements owned and operated as a cooperative, shall be assessed on the same basis of assessment as single family residences in such counties.
(Source: P.A. 78‑709; 88‑455.)

    (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 shall be deemed repair and maintenance when it (1) does not increase the square footage of improvements and does not materially alter the existing character and condition of the structure but is limited to work performed to prolong the life of the existing improvements or to keep the existing improvements in a well maintained condition; and (2) employs materials, such as those used for roofing or siding, whose value is not greater than the replacement value of the materials being replaced. Maintenance and repairs, as those terms are used in this Section, to property that enhance the overall exterior and interior appearance and quality of a residence by restoring it from a state of disrepair to a standard state of repair do not "materially alter the existing character and condition" of the residence.
(Source: P.A. 90‑788, eff. 8‑14‑98.)

      (35 ILCS 200/Art. 10 Div. 3 heading)
Division 3. Residential developments

    (35 ILCS 200/10‑25)
    Sec. 10‑25. Model homes, townhomes, and condominium units. If the construction of a single family dwelling is completed after December 29, 1986 or the construction of a single family townhome or condominium unit is completed after the effective date of this amendatory Act of 1994, and that dwelling, townhome, or condominium unit is not occupied as a dwelling but is used as a display or demonstration model home, townhome or condominium unit for prospective buyers of the dwelling or of similar homes, townhomes, or condominium units to be built on other property, the assessed value of the property on which the dwelling, townhome, or condominium was constructed shall be the same as the assessed value of the property prior to construction and prior to any change in the zoning classification of the property prior to construction of the dwelling, townhome or condominium unit. The application of this Section shall not be affected if the display or demonstration model home, townhome or condominium unit contains home furnishings, appliances, offices, and office equipment to further sales activities. This Section shall not be applicable if the dwelling, townhome, or condominium unit is occupied as a dwelling or the property on which the dwelling, townhome, or condominium unit is situated is sold or leased for use other than as a display or demonstration model home, townhome, or condominium unit. No property shall be eligible for calculation of its assessed value under this Section for more than a 10‑year period. If the dwelling, townhome, or condominium unit becomes ineligible for the alternate valuation, the owner shall within 60 days file with the chief county assessment officer a certificate giving notice of such ineligibility.
    For the purposes of this Section, no corporation, individual, sole proprietor or partnership may have more than a total of 3 model homes, townhomes, or condominium units at the same time within a 3 mile radius. The center point of each radius shall be the display or demonstration model that has been used as such for the longest period of time. The person liable for taxes on property eligible for assessment as provided in this Section shall file a verified application with the chief county assessment officer on or before (i) April 30 of each assessment year for which that assessment is desired in counties with a population of 3,000,000 or more and (ii) December 31 of each assessment year for which that assessment is desired in all other counties. Failure to make a timely filing in any assessment year constitutes a waiver of the right to benefit for that assessment year.
(Source: P.A. 91‑347, eff. 1‑1‑00.)

    (35 ILCS 200/10‑30)
    Sec. 10‑30. Subdivisions; counties of less than 3,000,000.
    (a) In counties with less than 3,000,000 inhabitants, the platting and subdivision of property into separate lots and the development of the subdivided property with streets, sidewalks, curbs, gutters, sewer, water and utility lines shall not increase the assessed valuation of all or any part of the property, if:
        (1) The property is platted and subdivided in
    
accordance with the Plat Act;
        (2) The platting occurs after January 1, 1978;
        (3) At the time of platting the property is in
    
excess of 10 acres; and
        (4) At the time of platting the property is vacant
    
or used as a farm as defined in Section 1‑60.
    (b) Except as provided in subsection (c) of this Section, the assessed valuation of property so platted and subdivided shall be determined each year based on 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.
    (c) Upon completion of a habitable structure on any lot of subdivided property, or upon the use of any lot, either alone or in conjunction with any contiguous property, for any business, commercial or residential purpose, or upon the initial sale of any platted lot, including a platted lot which is vacant: (i) the provisions of subsection (b) of this Section shall no longer apply in determining the assessed valuation of the lot, (ii) each lot shall be assessed without regard to any provision of this Section, and (iii) the assessed valuation of the remaining property, when next determined, shall be reduced proportionately to reflect the exclusion of the property that no longer qualifies for valuation under this Section. Holding or offering a platted lot for initial sale shall not constitute a use of the lot for business, commercial or residential purposes unless a habitable structure is situated on the lot or unless the lot is otherwise used for a business, commercial or residential purpose.
(Source: P.A. 83‑837; 88‑455.)

    (35 ILCS 200/10‑35)
    Sec. 10‑35. Subdivision common areas.
    (a) Residential property which is part of a development, but which is individually owned and ownership of which includes the right, by easement, covenant, deed or other interest in property, to the use of any common area for recreational or similar residential purposes shall be assessed at a value which includes the proportional share of the value of that common area or areas.
    Property is used as a "common area or areas" under this Section if it is a lot, parcel, or area, the beneficial use and enjoyment of which is reserved in whole as an appurtenance to the separately owned lots, parcels, or areas within the planned development.
    The common area or areas which are used for recreational or similar residential purposes and which are assessed to a separate owner and are located on separately identified parcels, shall be listed for assessment purposes at $1 per year.
    (b) In counties with 3,000,000 or more inhabitants, any person desiring to establish or to reestablish an assessment of $1 for any parcel on grounds of common area status under this Section shall submit an application for the assessment to the assessor. The application shall be submitted at the time within which other applications for revisions of assessment may be made under Section 14‑35 by taxpayers in the township where the parcel is located, and shall be in the form and accompanied by documentation, as the assessor may require.
    (c) If a $1 assessment is established pursuant to the application it may be maintained from year to year so long as the ownership or use of the parcel has not changed. When any change in ownership, use or other relevant fact occurs it shall be the duty of the new owner in cases of change in ownership, or of the current owner in all other cases, to notify the assessor in writing within 30 days of the change. The notice shall be sent by certified mail, return receipt requested, and shall include the name and address of the taxpayer, the legal description of the property, and the permanent index number of the property where such number exists. If the failure to give such notification results in the assessor continuing to assess the property at $1 in subsequent years in error, the property shall be considered omitted property under Section 9‑265. Nothing in this Section shall be construed to limit the assessor's authority to annually revise assessments subject to this Section under the procedures of Section 9‑85.
    (d) No objection shall be made to the denial of an assessment of $1 under this Section in any court except under Sections 21‑175 and 23‑5. No person may object to or otherwise challenge the failure of any parcel to receive an assessment of $1 under this Section in any proceeding in any court unless an application for the $1 assessment was made under subsection (b) of this Section.
(Source: P.A. 85‑1386; 88‑455.)

      (35 ILCS 200/Art. 10 Div. 4 heading)
Division 4. Historic residences

    (35 ILCS 200/10‑40)
    Sec. 10‑40. Historic Residence Assessment Freeze Law; definitions. This Section and Sections 10‑45 through 10‑85 may be cited as the Historic Residence Assessment Freeze Law. As used in this Section and Sections 10‑45 through 10‑85:
        (a) "Director" means the Director of Historic
    
Preservation.
        (b) "Approved county or municipal landmark
    
ordinance" means a county or municipal ordinance approved by the Director.
        (c) "Historic building" means an owner‑occupied
    
single family residence or an owner‑occupied multi‑family residence and the tract, lot or parcel upon which it is located, or a building or buildings owned and operated as a cooperative, if:
            (1) individually listed on the National Register
        
of Historic Places or the Illinois Register of Historic Places;
            (2) individually designated pursuant to an
        
approved county or municipal landmark ordinance; or
            (3) within a district listed on the National
        
Register of Historic Places or designated pursuant to an approved county or municipal landmark ordinance, if the Director determines that the building is of historic significance to the district in which it is located.
    Historic building does not mean an individual unit of a
    
cooperative.
        (d) "Assessment officer" means the chief county
    
assessment officer.
        (e) "Certificate of rehabilitation" means the
    
certificate issued by the Director upon the renovation, restoration, preservation or rehabilitation of an historic building under this Code.
        (f) "Rehabilitation period" means the period of time
    
necessary to renovate, restore, preserve or rehabilitate an historic building as determined by the Director.
        (g) "Standards for rehabilitation" means the
    
Secretary of Interior's standards for rehabilitation as promulgated by the U.S. Department of the Interior.
        (h) "Fair cash value" means the fair cash value of
    
the historic building, determined on the basis of the assessment officer's property record card, representing the value of the property prior to the commencement of rehabilitation without consideration of any reduction reflecting value during the rehabilitation work.
        (i) "Base year valuation" means the fair cash value
    
of the historic building for the year in which the rehabilitation period begins but prior to the commencement of the rehabilitation and does not include any reduction in value during the rehabilitation work.
        (j) "Adjustment in value" means the difference for
    
any year between the then current fair cash value and the base year valuation.
        (k) "Eight‑year valuation period" means the 8 years
    
from the date of the issuance of the certificate of rehabilitation.
        (l) "Adjustment valuation period" means the 4 years
    
following the 8 year valuation period.
        (m) "Substantial rehabilitation" means interior or
    
exterior rehabilitation work that preserves the historic building in a manner that significantly improves its condition.
        (n) "Approved local government" means a local
    
government that has been certified by the Director as:
            (1) enforcing appropriate legislation for the
        
designation of historic buildings;
            (2) having established an adequate and qualified
        
historic review commission;
            (3) maintaining a system for the survey and
        
inventory of historic properties;
            (4) providing for adequate public participation
        
in the local historic preservation program; and
            (5) maintaining a system for reviewing
        
applications under this Section in accordance with rules and regulations promulgated by the Director.
        (o) "Cooperative" means a building or buildings and
    
the tract, lot, or parcel on which the building or buildings are located, if the building or buildings are devoted to residential uses by the owners and fee title to the land and building or buildings is owned by a corporation or other legal entity in which the shareholders or other co‑owners each also have a long‑term proprietary lease or other long‑term arrangement of exclusive possession for a specific unit of occupancy space located within the same building or buildings.
        (p) "Owner", in the case of a cooperative, means the
    
Association.
        (q) "Association", in the case of a cooperative,
    
means the entity responsible for the administration of a cooperative, which entity may be incorporated or unincorporated, profit or nonprofit.
        (r) "Owner‑occupied single family residence" means a
    
residence in which the title holder of record (i) holds fee simple ownership and (ii) occupies the property as his, her, or their principal residence.
        (s) "Owner‑occupied multi‑family residence" means
    
residential property comprised of not more than 6 living units in which the title holder of record (i) holds fee simple ownership and (ii) occupies one unit as his, her, or their principal residence. The remaining units may be leased.
    The changes made to this Section by this amendatory Act of the 91st General Assembly are declarative of existing law and shall not be construed as a new enactment.
(Source: P.A. 90‑114, eff. 1‑1‑98; 91‑806, eff. 1‑1‑01.)

    (35 ILCS 200/10‑45)
    Sec. 10‑45. Valuation during 8 year valuation period. In furtherance of the policy of encouraging the rehabilitation of historic residences, property certified pursuant to this Historic Residence Assessment Freeze Law shall be eligible for an assessment freeze, as provided in this Section, eliminating from consideration, for assessment purposes, the value added by the rehabilitation and limiting the total valuation to the base year valuation as defined in subsection (i) of Section 10‑40. For all property upon which the Director has issued a certificate of rehabilitation, the valuation for purposes of assessment shall not exceed the base year valuation for the entire 8‑year valuation period, unless a taxing district elects, under Section 10‑85, that the provisions of this Section shall not apply to taxes that are levied by that taxing district. In the event that election is made, the property shall be valued under Section 9‑145 or 9‑150 for the purpose of extending taxes of that taxing district. The changes made to this Section by this amendatory Act of the 91st General Assembly are declarative of existing law and shall not be construed as a new enactment.
(Source: P.A. 91‑806, eff. 1‑1‑01.)

    (35 ILCS 200/10‑50)
    Sec. 10‑50. Valuation after 8 year valuation period. For the 4 years after the expiration of the 8‑year valuation period, the valuation for purposes of computing the assessed valuation shall be as follows:
    For the first year, the base year valuation plus 25% of the adjustment in value.
    For the second year, the base year valuation plus 50% of the adjustment in value.
    For the third year, the base year valuation plus 75% of the adjustment in value.
    For the fourth year, the then current fair cash value.
(Source: P.A. 82‑1023; 88‑455.)

    (35 ILCS 200/10‑55)
    Sec. 10‑55. Application process and application period.
    (a) The Director shall receive applications for certificates of rehabilitation in a form and manner provided by him or her by rule. The Director shall promptly notify the assessment officer of receipt of such applications. The rules shall provide that an applicant may request preliminary approval of rehabilitation before the rehabilitation period begins.
    (b) The Director shall approve an application for a certificate of rehabilitation when he or she finds that the restoration, preservation or rehabilitation:
        (1) involves an historic building;
        (2) has a cost, including architectural fees, equal
    
to or greater than 25% of the base year valuation;
        (3) is for a building for which no certificate of
    
rehabilitation has been approved within 4 years after the last year of the adjustment valuation period;
        (4) was or will be done in accordance with the
    
standards for rehabilitation; and
        (5) was or will be a substantial rehabilitation.
    (c) The Director shall determine the length of the rehabilitation period, which shall not exceed 2 years unless the Director finds:
        (1) it is economically unfeasible to complete the
    
rehabilitation in that period; or
        (2) the magnitude of the project is such that a good
    
faith attempt to complete the rehabilitation in that period would not succeed.
    (d) Upon approval of the application, the Director shall issue a certificate of rehabilitation to the applicant and transmit a copy to the assessment officer. The certificate shall identify the rehabilitation period.
    (e) If during the 8‑year valuation period and the adjustment valuation period, the Director determines, in accordance with the Illinois Administrative Procedure Act, that an historic building for which a certificate of rehabilitation has been issued has not been the subject of repair, renovation, remodeling or improvement in accordance with the standards for rehabilitation, he or she shall revoke the certificate of rehabilitation by written notice to the taxpayer of record and transmit a copy of the revocation to the assessment officer.
    The provisions in Section 10‑40 through 10‑85 apply to certified rehabilitation projects for which an application for a certificate of rehabilitation has been filed with the Director within 2 years of the rehabilitation period.
(Source: P.A. 91‑357, eff. 7‑29‑99; 91‑806, eff. 1‑1‑01.)

    (35 ILCS 200/10‑60)
    Sec. 10‑60. Certificate of status. It is the duty of the titleholder of record or the owner of the beneficial interest of any historic building which has been issued a certificate of rehabilitation, to file with the chief county assessment officer, on or before January 31 of each year, an affidavit stating whether there has been any change in the ownership or use of such property, the status of the owner‑occupant, or, in the case of a cooperative, whether there has been a change in the use of the property or a change in the cooperative form of ownership. If there has been such a change, the nature of this change shall be stated. Failure to file such an affidavit shall, in the discretion of the chief county assessment officer, constitute cause to revoke the certificate of rehabilitation. The chief county assessment officer shall furnish to the owner a form for the affidavit wherein the owner may state whether there has been any change in the ownership or use of the property or the status of the owner. If the chief county assessment officer determines that the historic building is no longer used as an owner‑occupied single family residence or an owner‑occupied multi‑family residence, or that there has been a sale or transfer for value of the historic building other than to the first owner‑occupant after the issuance of a certificate of rehabilitation, or that the historic building no longer meets the definition of a cooperative, he or she shall revoke the certificate by written notice to the taxpayer of record, and shall send a copy of that notice to the Department.
(Source: P.A. 89‑675, eff. 8‑14‑96; 90‑114, eff. 1‑1‑98.)

    (35 ILCS 200/10‑65)
    Sec. 10‑65. Receipt of applications. An approved local government shall receive applications for certificates of rehabilitation within its corporate boundaries. The decision of the approved local government shall be final unless disapproved by the Director within 30 days of his receipt of the application and local decision.
(Source: P.A. 86‑1481; 88‑455.)

    (35 ILCS 200/10‑70)
    Sec. 10‑70. Computation of valuation.
    (a) Upon receipt of the certificate of rehabilitation, the assessment officer shall determine the base year valuation and shall make a notation on each statement of assessment during the 8‑year valuation period and the adjustment valuation period that the valuation of the historic building shall be based upon the issuance of a certificate of rehabilitation.
    (b) Upon revocation of a certificate of rehabilitation, the assessment officer shall compute the assessed valuation of the building on the basis of the then current fair cash value.
    (c) An historic building receiving a certificate of rehabilitation shall not be eligible for the homestead improvement exemption during the 8‑year valuation period and adjustment valuation period.
(Source: P.A. 86‑1481; 88‑455.)

    (35 ILCS 200/10‑75)
    Sec. 10‑75. Approval of municipal ordinances. In addition to the powers and duties described elsewhere in this Code, the Director may approve county or municipal ordinances which qualify historic buildings for consideration under this Code. However, no ordinance shall be approved unless it:
        (a) is designed to preserve and rehabilitate
    
buildings of historic significance;
        (b) contains criteria for the designation of
    
landmarks consistent with those established by the U.S. Department of the Interior for the inclusion of places on the National Register of Historic Places; and
        (c) contains criteria for review of demolitions and
    
major alterations.
(Source: P.A. 87‑818; 88‑455.)

    (35 ILCS 200/10‑80)
    Sec. 10‑80. Rules and regulations. The Director may promulgate rules and regulations as may be necessary to administer this Code, including but not limited to provisions that:
        (1) Preclude the issuance of a certificate of
    
rehabilitation for any owner‑occupied single family residence, owner‑occupied multi‑family residence, or cooperative where 30% or more of the dwelling space is new construction outside the existing structure.
        (2) Specify what costs are eligible to meet the 25%
    
minimum specified under subsection (b) of Section 10‑55, and make ineligible those costs attributable to new construction outside the existing structure.
    These regulations shall not preclude the issuance of a certificate of rehabilitation for a condominium.
(Source: P.A. 89‑675, eff. 8‑14‑96; 90‑114, eff. 1‑1‑98.)

    (35 ILCS 200/10‑85)
    Sec. 10‑85. Election by taxing district to deny special tax treatment. Any taxing district may elect by a majority vote of its governing authority within the first 30 days of each calendar year, upon written notice to the county clerk and the assessment officer, that the provisions of Sections 10‑40 through 10‑80 shall not apply to taxes that are levied by the taxing district. In the event the Director has issued a certificate of rehabilitation upon a historic building within a taxing district in a year prior to that taxing district's election under this Section or if the rehabilitation period commenced prior to the taxing district's election, the taxing district's election shall have no effect on the property for the 8‑year valuation period and the adjustment valuation period.
(Source: P.A. 86‑1481; 88‑455.)

      (35 ILCS 200/Art. 10 Div. 5 heading)
Division 5. Airports and interstate bridges

    (35 ILCS 200/10‑90)
    Sec. 10‑90. Property used for airport purposes. In counties with 200,000 or more inhabitants, in addition to valuation as otherwise permitted by law, upon the filing of an application under Section 10‑95 by the person liable for the taxes on that property, which is used for airport purposes and has been so used for the 3 years immediately preceding the year when the assessment is made shall be valued on the basis of 33 1/3% of its fair cash value, based upon the price it would bring at a fair, voluntary sale for use by the buyer for airport purposes.
    Property is considered used for airport purposes under this Section if it is devoted primarily to the operation of an airport or restricted landing field approved by the Department of Transportation in accordance with the Illinois Aeronautics Act and is open to the public except as restricted by the Department of Transportation or the Illinois Aeronautics Act.
(Source: P.A. 81‑840; 88‑455.)

    (35 ILCS 200/10‑95)
    Sec. 10‑95. Application process. The person liable for taxes on land used for airport purposes must file a verified application requesting the additional valuation provided for in Section 10‑90, with the chief county assessment officer of the county where the land is located, by January 1 of each year for which that valuation is desired. The application shall be in the form prescribed by the Department and contain such information as may reasonably be required to determine whether the applicant meets the requirements of Section 10‑90. If the application shows the applicant is entitled to the valuation, the chief county assessment officer shall approve it; otherwise, he or she shall reject the application.
    When an application has been filed with and approved by the chief county assessment officer, he or she shall determine the valuation of the land in two ways as otherwise permitted by law, and as described in Section 10‑90, and shall list those valuations separately. The county clerk, in preparing assessment books, lists and blanks under Section 9‑100, shall include columns for indicating the approval of an application filed under this Section and for setting out the valuations made as otherwise permitted by law, and under Section 10‑90.
(Source: P.A. 77‑2783; 88‑455.)

    (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 person liable for taxes on that portion of the land shall notify the chief county assessment officer, in writing, of that fact, and shall pay to the county treasurer, by the following September 1, the difference between the taxes paid in each of the 3 preceding years as based on a valuation under Section 10‑90 and what those taxes for each of those years would have been when based on the valuation as otherwise permitted by law, together with 5% interest. If this difference is not paid by the following September 1, the amount of that difference shall be considered as delinquent taxes under this Code.
(Source: P.A. 77‑2783; 88‑455.)

    (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 assessed by the township or other assessor in the county or township where the structure is located. All provisions relating to the assessment and taxation of property, shall apply to those bridges. The assessor shall give in his or her description the quarter section of property, section of property, township and range in which the bridge is located or terminates in this State, together with the metes and bounds of the ground occupied by the bridge and the approaches to it, from the end on the Illinois shore to the center of the main channel of the stream crossed by the bridge. To obtain the description, the assessor may employ a competent surveyor, and the expense of making the survey and description shall be charged as a tax against the property by the county clerk, on the certificate of the surveyor. One survey of any bridge and approaches made under this Code, shall be deemed sufficient for the purpose of subsequent assessment of the bridge or approaches.
    In default of the payment of any tax assessed against any bridge company, the bridge structure and its approaches that are located within this State, together with the land on which they are located, as described by the assessor, and the franchise belonging thereto, shall be sold for the tax at the same time and in the same manner as other property in the county is sold for delinquent tax. Any county, city, town, school district or other municipal corporation, interested in the collection of the tax levied upon the bridge, may become the purchaser at the sale, or at any sale of the property under judgment recovered upon, or to enforce the collection of the tax; and if the property so sold is not redeemed, may acquire, hold, sell and dispose of the title.
(Source: Laws 1939, p. 886; P.A. 88‑455.)

      (35 ILCS 200/Art. 10 Div. 6 heading)
Division 6. Farmland, open space,
and forestry management plan.

    (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 10‑140. To assure proper implementation of Sections 10‑110 through 10‑140, the Department may withhold non‑farm multipliers for any county other than a county with more than 3,000,000 inhabitants that classifies property for tax purposes.
(Source: P.A. 92‑301, eff. 1‑1‑02.)

    (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‑person Farmland Assessment Technical Advisory Board, consisting of technical experts from the colleges or schools of agriculture of the State universities and State and federal agricultural agencies, to advise in and provide data and technical information needed for implementation of this Section.
    By May 1 of each year, the Department shall certify to each chief county assessment officer the following, calculated from data provided by the Farmland Technical Advisory Board, on a per acre basis by soil productivity index for harvested cropland, using moving averages for the most recent 5‑year period for which data are available:
        (a) gross income, estimated by using yields per acre
    
as assigned to soil productivity indices, the crop mix for each soil productivity index as determined by the College of Agriculture of the University of Illinois and average prices received by farmers for principal crops as published by the Illinois Crop Reporting Service;
        (b) production costs, other than land costs,
    
provided by the College of Agriculture of the University of Illinois;
        (c) net return to land, which shall be the
    
difference between (a) and (b) above;
        (d) a proposed agricultural economic value
    
determined by dividing the net return to land by the moving average of the Federal Land Bank farmland mortgage interest rate as calculated by the Department;
        (e) the equalized assessed value per acre of
    
farmland for each soil productivity index, which shall be 33‑1/3% of the agricultural economic value, or the percentage as provided under Section 17‑5; but any increase or decrease in the equalized assessed value per acre by soil productivity index shall not exceed 10% from the immediate preceding year's soil productivity index certified assessed value;
        (f) a proposed average equalized assessed value per
    
acre of cropland for each individual county, weighted by the distribution of soils by productivity index in the county; and
        (g) a proposed average equalized assessed value per
    
acre for all farmland in each county, weighted (i) to consider the proportions of all farmland acres in the county which are cropland, permanent pasture, and other farmland, and (ii) to reflect the valuations for those types of land and debasements for slope and erosion as required by Section 10‑125.
(Source: P.A. 91‑357, eff. 7‑29‑99.)

    (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 application of the State‑certified farmland values, guidelines and the implementation of this Section. The Committee shall consist of 5 members: the chief county assessment officer or his or her designee, the Chairman of the County Board of Review or another member of that Board appointed by the Chairman, and 3 farmers appointed by the Chairman of the County Board. The County Board of each county may fix the compensation of members of the Committee for attendance at meetings of the committee. The chief county assessment officer or designee shall be chairman and shall convene the Committee on or about May 1 of each year. The Committee may solicit public input.
    Each chief county assessment officer shall present annually to the Committee the farmland valuation procedure to be used in that county and the equalized assessed valuations by productivity index to be used for the next assessment year. On or about June 1, the Committee shall hold a public hearing on the equalized assessed values of farmland proposed by the Department and the implementation of the procedures proposed by the chief county assessment officer. If the Committee concurs with the procedures and valuations, the chief county assessment officer shall proceed with the farmland assessment process. If the Committee objects to the procedures or valuations proposed, the Committee shall make alternate recommendations to the Department by August 1. The Department shall rule within 30 days and direct the chief county assessment officer to implement the ruling. The Committee may appeal the Department's ruling to the Property Tax Appeal Board within 30 days. The Property Tax Appeal Board shall be the final authority in any appeal and its decisions under this paragraph shall not be subject to the Administrative Review Law. Appeals by the Committee shall be heard by the Property Tax Appeal Board within 30 days of receipt; a decision must be rendered within 60 days of receipt, and not later than December 31 of the year preceding the assessment year. Appeals by the Committee of any county shall take precedence over all individual taxpayer appeals.
(Source: P.A. 86‑954; 88‑455.)

    (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 in accordance with
    
the equalized assessed value of its soil productivity index as certified by the Department and shall be debased to take into account factors including, but not limited to, slope, drainage, ponding, flooding, and field size and shape.
        (b) Permanent pasture shall be assessed at 1/3 of
    
its debased productivity index equalized assessed value as cropland.
        (c) Other farmland shall be assessed at 1/6 of its
    
debased productivity index equalized assessed value as cropland.
        (d) Wasteland shall be assessed on its contributory
    
value to the farmland parcel.
    In no case shall the equalized assessed value of permanent pasture be below 1/3, nor the equalized assessed value of other farmland, except wasteland, be below 1/6, of the equalized assessed value per acre of cropland of the lowest productivity index certified under Section 10‑115.
(Source: P.A. 86‑954; 88‑455.)

    (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 it would bring at a fair, voluntary sale for use by the buyer as a farm as defined in Section 1‑60, or 90% of the 1983 average equalized assessed value per acre certified by the Department.
(Source: P.A. 86‑954; 88‑455.)

    (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 assessment officer or a Board of Review under Sections 9‑205 and 16‑60 shall be applied to assessments of farmland only to achieve assessments as required by Sections 10‑110 through 10‑130.
(Source: P.A. 92‑301, eff. 1‑1‑02.)

    (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, or for storing feed, grain or any substance that contributes to or is a product of the farm, shall have an equalized assessed value of 33 1/3% of their value, based upon the current use of those buildings and their contribution to the productivity of the farm.
(Source: P.A. 86‑954; 88‑455.)

    (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 for purposes of taxation in accordance with Section 4 of Article IX of the Constitution they shall be assessed at the percentage of fair cash value as required by county ordinance. That assessment shall be subject to equalization by the Department under Sections 17‑5 through 17‑30.
(Source: P.A. 82‑554; 88‑455.)

    (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 10‑140. If no other use is established, the tract shall be considered to be used for open space purposes and its valuation shall be determined under Sections 10‑155 through 10‑165.
(Source: P.A. 87‑1270; 88‑455.)

    (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 be considered as "other farmland" and shall be valued at 1/6 of its productivity index equalized assessed value as cropland. In counties with more than 3,000,000 inhabitants, any land totalling 15 acres or less for which an approved forestry management plan was in effect on or before December 31, 1985, shall be considered "other farmland". The Department of Natural Resources shall inform the Department and each chief county assessment officer of each parcel of land covered by an approved forestry management plan.
(Source: P.A. 88‑455; 89‑445, eff. 2‑7‑96.)

    (35 ILCS 200/10‑152)
    (Section scheduled to be repealed on December 31, 2016)
    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 limited to surface water, a stream, a river, or a sinkhole and (ii) that meets the requirements of subsection (b) of this Section shall be considered a "vegetative filter strip" and valued at 1/6th of its productivity index equalized assessed value as cropland. In counties with 3,000,000 or more inhabitants, the land shall be valued at the lesser of either (i) 16% of the fair cash value of the farmland estimated at the price it would bring at a fair, voluntary sale for use by the buyer as a farm as defined in Section 1‑60 or (ii) 90% of the 1983 average equalized assessed value per acre certified by the Department of Revenue.
    (b) Vegetative filter strips shall meet the standards and specifications set forth in the Natural Resources Conservation Service Technical Guide and shall contain vegetation that (i) has a dense top growth; (ii) forms a uniform ground cover; (iii) has a heavy fibrous root system; and (iv) tolerates pesticides used in the farm field.
    (c) The county's soil and water conservation district shall assist the taxpayer in completing a uniform certified document as prescribed by the Department of Revenue in cooperation with the Association of Illinois Soil and Water Conservation Districts that certifies (i) that the property meets the requirements established under this Section for vegetative filter strips and (ii) the acreage or square footage of property that qualifies for assessment as a vegetative filter strip. The document shall be filed by the applicant with the Chief County Assessment Officer. The Chief County Assessment Officer shall promulgate rules concerning the filing of the document. The soil and water conservation district shall create a conservation plan for the creation of the filter strip. The plan shall be kept on file in the soil and water conservation district office. Nothing in this Section shall be construed to require any taxpayer to have vegetative filter strips.
    (d) A joint report by the Department of Agriculture and the Department of Natural Resources concerning the effect and impact of vegetative filter strip assessment shall be submitted to the General Assembly by March 1, 2006.
    (e) This Section is repealed on December 31, 2016.
(Source: P.A. 94‑1002, eff. 7‑3‑06.)

    (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, Lakes, and Streams Act as navigable, and (iii) has not been clear cut of trees, as defined in Section 29a of the Rivers, Lakes, and Streams Act, shall be valued at 1/12th of its productivity index equalized assessed value as cropland.
(Source: P.A. 91‑907, eff. 1‑1‑01.)

    (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, upon application under Section 10‑160, shall be valued on the basis of its fair cash value, estimated at the price it would bring at a fair, voluntary sale for use by the buyer for open space purposes.
    Land is considered used for open space purposes if it is more than 10 acres in area and:
        (a) is actually and exclusively used for maintaining
    
or enhancing natural or scenic resources,
        (b) protects air or streams or water supplies,
        (c) promotes conservation of soil, wetlands,
    
beaches, or marshes, including ground cover or planted perennial grasses, trees and shrubs and other natural perennial growth, and including any body of water, whether man‑made or natural,
        (d) conserves landscaped areas, such as public or
    
private golf courses,
        (e) enhances the value to the public of abutting or
    
neighboring parks, forests, wildlife preserves, nature reservations, sanctuaries, or other open spaces, or
        (f) preserves historic sites.
    Land is not considered used for open space purposes if it is used primarily for residential purposes.
(Source: P.A. 88‑455; 89‑137, eff. 1‑1‑96.)

    (35 ILCS 200/10‑160)
    Sec. 10‑160. Open space; application process. 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 county assessment officer by January 31 of each year for which that valuation is desired. If the application is not filed by January 31, the taxpayer waives the right to claim that additional valuation for that year. The application shall be in the form prescribed by the Department and contain information as may reasonably be required to determine whether the applicant meets the requirements of Section 10‑155. If the application shows the applicant is entitled to the valuation, the chief county assessment officer shall approve it; otherwise, the application shall be rejected.
    When such an application has been filed with and approved by the chief county assessment officer, he or she shall determine the valuation of the land as otherwise permitted by law and as required under Section 10‑155, and shall list those valuations separately. The county clerk, in preparing assessment books, lists and blanks under Section 9‑100, shall include therein columns for indicating the approval of an application and for setting out the two separate valuations.
(Source: P.A. 80‑1364; 88‑455.)

    (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 officer, in writing.
    The person shall pay to the county treasurer, by the following September 1, the difference between the taxes paid in the 3 preceding years as based on a valuation under Section 10‑155 and what the taxes for those years would have been when based on the valuation as otherwise permitted by law, together with 5% interest. If this difference is not paid by the following September 1, the amount of that difference shall be considered as delinquent taxes.
(Source: P.A. 80‑1364; 88‑455.)

    (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) registered in perpetuity under Section 16 of the Illinois Natural Areas Preservation Act, or (ii) encumbered in perpetuity by a conservation right, as defined in the Real Property Conservation Rights Act, if the conservation right has been conveyed and accepted in accordance with Section 2 of the Real Property Conservation Rights Act, recorded under Section 5 of that Act, and yields a public benefit as defined in Section 10‑167 of this Act, upon application under Section 10‑168, the portion of the lot, parcel, or tract of land registered or encumbered shall be valued at 8‑1/3% of its fair market value estimated as if it were not registered or encumbered; and any improvement, dwelling, or other appurtenant structure present on any registered or encumbered portion of land shall be valued at 33‑1/3% of its fair market value. Beginning with the 1995 tax year in counties with more than 200,000 inhabitants that classify property for the purpose of taxation, to the extent any portion of a lot, parcel, or tract of land is (i) registered in perpetuity under Section 16 of the Illinois Natural Areas Preservation Act or (ii) encumbered in perpetuity by a conservation right, as defined in the Real Property Conservation Rights Act, if the conservation right has been conveyed and accepted in accordance with Section 2 of the Real Property Conservation Rights Act, recorded under Section 5 of that Act, and yields a public benefit as defined in Section 10‑167 of this Code, upon application under Section 10‑168, the portion of the lot, parcel, or tract of land registered or encumbered shall be valued at 25% of that percentage of its fair market value established under this Code, by an ordinance adopted under Section 4 of Article IX of the Illinois Constitution, or both, as the case may be; and any improvement, dwelling, or other appurtenant structure present on any registered or encumbered portion of the land shall be valued at that percentage of fair market value established under this Code, by an ordinance adopted under Section 4 of Article IX of the Illinois Constitution, or both, as the case may be. To qualify for valuation under this Section, the registration agreement or conservation right establishing an encumbrance shall prohibit the construction of any other structure on the registered or encumbered land except replacement structures, no larger than the previous structures which are replaced, that do not interfere with or destroy the registration or conservation right.
    The valuation provided for in this Section shall not apply to any land that has been valued as open space land under Section 10‑155.
(Source: P.A. 88‑657, eff. 1‑1‑95.)

    (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 following:
        (1) Land providing a regular opportunity for public
    
access to outdoor recreation or outdoor education.
        (2) Land preserving habitat for State or federal
    
endangered or threatened species or federal candidate species as defined in the Code of Federal Regulations (50 CFR 424.02).
        (3) Land identified in the Illinois Natural Areas
    
Inventory.
        (4) Land determined to be eligible for registration
    
under Section 16 of the Illinois Natural Areas Preservation Act.
        (5) Land contributing to the ecological viability of
    
a park, conservation area, nature preserve, or other high quality native terrestrial or aquatic area that is publicly owned or otherwise protected.
        (6) Land included in, or consistent with a federal,
    
State, regional, or local government policy or plan for the conservation of wildlife habitat or open space, for the restoration or protection of lakes and streams, or for the protection of scenic areas.
    (b) The person liable for taxes on the land shall submit an application to the Department of Natural Resources requesting certification that the land meets one of the criteria established in subsection (a). The application shall be in a form furnished by the Department of Natural Resources. Within 30 days of receipt of a complete and correct application for certification, the Department of Natural Resources shall determine whether the land encumbered by a conservation right provides a demonstrated public benefit and shall inform the applicant in writing of the decision.
(Source: P.A. 91‑357, eff. 7‑29‑99.)

    (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 conservation rights valuation with the chief county assessment officer by January 31 of the first year that the valuation is desired. If the application is not filed by January 31, the taxpayer waives the right to claim that valuation for that year. The application shall be in the form prescribed by the Department and shall contain information as may reasonably be required to determine whether the applicant meets the requirements of Section 10‑166. If the application shows the applicant is entitled to the valuation, the chief county assessment officer shall approve it and maintain that valuation until notified as provided in Section 10‑169. Otherwise, the application shall be rejected. The application shall be accompanied by the certification provided for in Section 10‑167, if required.
    (b) When the application has been filed with and approved by the chief county assessment officer, he or she shall determine the valuation of the land as otherwise permitted by law and as required under Section 10‑166, and shall keep a record of that valuation.
(Source: P.A. 88‑657, eff. 1‑1‑95.)

    (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 conservation right has the effect of substantially diminishing the public benefit, the person liable for taxes on the land shall notify the chief county assessment officer in writing by certified mail within 30 days after the release or amendment. The person liable for taxes on the land that is no longer registered or encumbered by the conservation right shall pay the county collector, by the following September 1, the difference between the taxes paid in the 10 preceding years or, in the event the reduced valuation has been in effect for less than 10 preceding years, the difference between the taxes for the years the reduced valuation has been in effect as based on a valuation under Section 10‑166 and what the taxes for those years would have been when based on the valuation as otherwise permitted by this Code, by ordinance adopted under Section 4 of Article IX of the Illinois Constitution, or both, as the case may be, together with 10% interest. If the difference is not paid by the following September 1, the amount of that difference shall be considered as delinquent taxes. In the event the person liable for taxes on the land fails to notify the chief county assessment officer in writing by certified mail within 30 days after the release or amendment of the conservation rights, the property shall be treated as omitted property under the provisions of this Code.
    (b) Subsection (a) shall not apply if:
        (1) the registration agreement or conservation right
    
is released, terminated, or extinguished pursuant to an acquisition by eminent domain of the land registered or encumbered by the conservation right, provided that for purposes of a conservation right the compensation for the conservation right is paid to the grantee of the conservation right; or
        (2) the registration agreement or conservation right
    
is released, terminated, or extinguished in an involuntary judicial proceeding, provided that for purposes of a conservation right all of the proceeds from a sale, exchange, or involuntary conversion of the conservation right are paid to the grantee of the conservation right; or
        (3) the conservation right is released, terminated,
    
or extinguished by the grantee of the conservation right without the consent of the owner of the property encumbered by the conservation right, provided that the owner of the encumbered property subsequently conveys or, in good faith and in cooperation with the Department of Natural Resources, attempts to convey a new conservation right that encumbers the same property and qualifies for valuation under Section 10‑166 within 12 months of the release, termination, or extinguishment of the prior conservation right.
(Source: P.A. 88‑657, eff. 1‑1‑95; 89‑445, eff. 2‑7‑96.)

      (35 ILCS 200/Art. 10 Div. 7 heading)
Division 7. Coal

    (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 per acre. There shall be no per acre undeveloped coal reserve economic value for persons not in the business of mining who have not severed the coal from the land by deed or lease.
(Source: P.A. 85‑1359; 88‑455.)

    (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 the life used to determine the developed coal.
    (a) The interest rate to be used for determining present value shall be the arithmetic average prime interest rate quoted by the 4 largest United States banks as measured by total assets located within the Chicago metropolitan statistical area as defined by the United States Department of Commerce as of the current assessment date and the 2 preceding assessment dates, plus 3%.
    (b) Net income means 4% of the average spot market price for Illinois coal as published in a recognized publication prescribed by the Department, as of the current assessment date and the 2 preceding assessment dates, multiplied by the number of recoverable tons per acre.
    (c) Recoverable coal tons per acre equals 1,742 tons per foot acre multiplied by seam thickness, and then multiplied by the recovery ratio.
    (d) Coal seam thickness means the average thickness of the coal seam or seams where coal is initially extracted.
    (e) Recovery ratio means the lesser of 80% for coal extracted by surface mining methods and 50% for coal extracted by underground mining methods or the actual historical recovery ratio for the mining operation.
    (f) The total assessed value of developed coal shall be attributed equally to the coal acreage that is anticipated to be mined.
    (g) Change in the per acre assessed value of coal shall not exceed 10% in any one year except when a change of acreage classification occurs.
(Source: P.A. 85‑1359; 88‑455.)

    (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 with Section 9‑180. For purposes of this Section any permitted acreage that is to be mined during the current year which is not included in the anticipated 5 year mine acreage due to a change in the mining plan shall not be subject to assessment on a proportionate basis in accordance with Section 9‑180.
(Source: P.A. 85‑1359; 88‑455.)

    (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. 85‑1359; 88‑455.)

    (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% of the assessed value
        1996 and thereafter ‑ 100% of the assessed value
    Coal assessments, including assessments based on the value of coal, that were in effect January 1, 1986 shall be reduced to the undeveloped coal reserve economic assessed value per acre under Section 10‑175 in annual increments as follows:
        1993 ‑ 30% of the 1986 unequalized assessed value
        1994 ‑ 20% of the 1986 unequalized assessed value
        1995 ‑ 10% of the 1986 unequalized assessed value
        1996 and thereafter ‑ the undeveloped coal reserve
        
economic assessed value
(Source: P.A. 85‑1359; 88‑455.)

    (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 multipliers. Equalization factors applied by a chief county assessment officer or a Board of Review pursuant to Sections 9‑205 and 16‑65 shall be applied to assessments of coal only to achieve assessments as required by Sections 10‑170 through 10‑195.
(Source: P.A. 85‑1359; 88‑455.)

      (35 ILCS 200/Art. 10 Div. 8 heading)
Division 8. Sports stadiums

    (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 period beginning July 1, 1989, and ending with the year 22 years after the base year.
(Source: P.A. 86‑110; 88‑455.)

    (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 is determined as of January 1 of that year.
    (c) "Base period" means the calendar year immediately preceding the tax year.
    (d) "Interest" for the base period means the annual interest that would accrue on a principal amount equal to 100% of all costs (including construction period interest actually incurred) incurred with respect to the acquisition, construction or improvement of property described in subsection (a) of Section 10‑215 through the end of the base period, if the interest rate were equal to the average, compounded quarterly, of the corporate base rate reported as in effect on the first business day of each month of the base period by the largest bank (measured by assets) with its head office located in Chicago, Illinois.
    (e) "Income taxes" for the base period shall mean federal and State income taxes computed by multiplying the taxable income from the property by the lower of (1) the highest tax rates applicable to individuals or (2) the highest tax rates applicable to corporations.
(Source: P.A. 86‑110; 88‑455.)

    (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 of which is commenced after July 1, 1989, or any parking lot or parking garage for participants, spectators or staff which is acquired, constructed or improved at any time primarily for use in connection with the stadium, or any property on which the stadium, lot or garage is located;
    (b) property that would qualify as property described in subsection (a) of this Section, except that construction of the new stadium is not completed by the first day of the tax year; or
    (c) any parking lot or parking garage that is located within 3,000 feet of property described in subsection (a) of this Section, that is used primarily in connection with any existing stadium or with property described in subsection (a) of this Section, and that was employed for those uses prior to July 1, 1989, or any property on which the lot or garage is located.
(Source: P.A. 86‑110; 88‑455.)

    (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 shall be equal to 4 times the annual net income (revenues net of all expenses, including interest, income taxes, and all property maintenance or replacement expenditures whether or not capital in nature, but not including depreciation) actually earned by its owners from the property during the base period.
    (b) For any tax year prior to the base year, property described in subsections (b) and (c) of Section 10‑215 shall be classified and valued so that the fair cash value of the property does not exceed the fair cash value of the property for the 1989 tax year, as adjusted by the percentage increase in valuation of all property in the municipality between 1989 and the tax year.
    (c) The fair cash value of property described in Section 10‑215 shall be determined as specified in this Section and without taking into account (1) the planned or actual construction and improvement of property described in subsection (a) of Section 10‑215, or (2) any acquisition, replacement or resale values or alternative uses assumed or imputed in contemplation or in consequence of such planned or actual construction and improvement.
    (d) Notwithstanding any other provision of this Section, including subsection (c), the aggregate of all property taxes payable on the property described in Section 10‑215 shall not be less than:
        (1) for any tax year prior to the base year, the
    
aggregate property taxes payable on such property for the 1988 tax year;
        (2) for the base year, $600,000;
        (3) for the first tax year following the base year,
    
$735,000;
        (4) for the second tax year following the base year,
    
$870,000;
        (5) for the third tax year following the base year
    
and for each tax year thereafter, $1,000,000.
(Source: P.A. 86‑110; 88‑455.)

    (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 10‑140. If no other use is established, the tract shall be considered to be used for open space purposes and its valuation shall be determined under Sections 10‑155 through 10‑165.
(Source: P.A. 87‑1270; incorporates 88‑45; 88‑670, eff. 12‑2‑94.)

      (35 ILCS 200/Art. 10 Div. 9 heading)
Division 9. Nurseries

    (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/Art. 10 Div. 10 heading)
DIVISION 10. ELECTRIC POWER GENERATING STATIONS

    (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 Electric Service Customer Choice and Rate Relief Law of 1997 on the valuation of the real property component of electric generating stations owned by electric utilities and, therefore, on the taxing districts in this State in which electric generating stations are located.
    (b) There shall be established and appointed in accordance with this Section an Electric Utility Property Assessment Task Force. Such Task Force shall be chaired by the President of the Taxpayers' Federation of Illinois, who shall be a non‑voting member of the Task Force. The Task Force shall be composed of 10 voting members, 6 of whom shall be representatives of taxing districts in which electric generating stations are located and 4 of whom shall be representatives of electric utilities in this State, at least one of whom shall be from an electric utility serving over 1,000,000 retail customers in this State and at least one of whom shall be from an electric utility serving over 500,000 but less than 1,000,000 retail customers in this State.
    (c) The voting members of this Task Force shall be appointed as follows: (i) 3 of the voting members, one of whom shall be from an electric utility, shall be appointed by the President of the Senate; (ii) 3 of the voting members, one of whom shall be from an electric utility, shall be appointed by the Speaker of the House of Representatives; (iii) 2 of the voting members, one of whom shall be from an electric utility, shall be appointed by the Minority Leader of the Senate; and (iv) 2 of the voting members, one of whom shall be from an electric utility, shall be appointed by the Minority Leader of the House of Representatives. Such appointments shall be made within 30 days after the effective date of this amendatory Act of 1997. Members of the Task Force shall receive no compensation for their services but shall be entitled to reimbursement of reasonable expenses incurred while performing their duties.
    (d) The Task Force shall submit a report to the General Assembly by January 1, 1999 which shall: (i) analyze whether, and to what extent, taxing districts throughout this State will experience significant sustained erosions of their property tax bases and property tax revenues as a result of the restructuring of the electric industry in this State; and (ii) make recommendations for legislative changes to address any such impacts.
    (e) Beginning with the 1997 assessment year through the assessment year of 1999, the fair cash value of any electric power generating plant owned as of November 1, 1997, by an electric utility, as that term is defined in Section 16‑102 of the Public Utilities Act, shall be determined using original cost less depreciation of the electric power generating plant. When determining original cost less depreciation, including the original cost less depreciation of all new construction, the rate or rates of depreciation applied shall be the same as the rate or rates in effect November 1, 1997, under the Public Utilities Act and the rules and orders of the Illinois Commerce Commission, irrespective of any change in ownership of the property occurring after the effective date of the provisions of the Electric Service Customer Choice and Rate Relief Law of 1997. Nothing in this subsection shall be construed to affect the classification of property as real or personal. Determinations of original cost less depreciation for purposes of this subsection shall be made without regard for the use of any accelerated cost recovery method including accelerated depreciation, accelerated amortization or other capital recovery methods, or reductions to original cost of an electric power generating plant made as a result of the provisions of Senate Amendment No. 2 to House Bill 362, enacted by the 90th General Assembly.
(Source: P.A. 90‑562, eff. 12‑16‑97.)

      (35 ILCS 200/Art. 10 Div. 11 heading)
DIVISION 11. LOW‑INCOME HOUSING

    (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 the Internal Revenue Code shall be valued at 33 and one‑third percent of the fair market value of their economic productivity to the owners of the projects to help insure that their valuation for property taxation does not result in taxes so high that rent levels must be raised to cover this project expense, which can cause excess vacancies, project loan defaults, and eventual loss of rental housing facilities for those most in need of them, low‑income families and the elderly. It is the intent of this State that the valuation required by this Division is the closest representation of cash value required by law and is the method established as proper and fair.
(Source: P.A. 92‑16, eff. 6‑28‑01; 93‑533, eff. 1‑1‑04; 93‑755, eff. 7‑16‑04.)

    (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 provide affordable housing to low to moderate income families and seniors in rural communities with populations under 20,000, (ii) that receive a subsidy in the form of a 1% loan interest rate and a 50‑year amortization of the mortgage, (iii) that would not have been built without a Section 515 interest credit subsidy, and (iv) where the owners of the projects are limited to an annual profit of an 8% return on a 5% equity investment, which may result in a modest cash flow to owners of the projects unless actual expenses, including property taxes, exceed budget projections, in which case no profit may be realized.
(Source: P.A. 91‑651, eff. 1‑1‑00; 92‑16, eff. 6‑28‑01.)

    (35 ILCS 200/10‑245)
    Sec. 10‑245. Method of valuation of low‑income housing projects. Notwithstanding Section 1‑55 and except in counties with a population of more than 200,000 that classify property for the purposes of taxation, to determine 33 and one‑third percent of the fair cash value of any low‑income housing project developed under the Section 515 program or that qualifies for the low‑income housing tax credit under Section 42 of the Internal Revenue Code, in assessing the project, local assessment officers must consider the actual or probable net operating income attributable to the project, using a vacancy rate of not more than 5%, capitalized at normal market rates. The interest rate to be used in developing the normal market value capitalization rate shall be one that reflects the prevailing cost of cash for other types of commercial real estate in the geographic market in which the low‑income housing project is located.
(Source: P.A. 93‑533, eff. 1‑1‑04; 93‑755, eff. 7‑16‑04.)

    (35 ILCS 200/10‑250)
    Sec. 10‑250. Certification procedure and effective date of implementation.
    (a) After (i) an application for a Section 515 low‑income housing project certificate is filed with the State Director of the United States Department of Agriculture Rural Development Office in a manner and form prescribed in regulations issued by the office and (ii) the certificate is issued certifying that the housing is a Section 515 low‑income housing project as defined in Section 2 of this Act, the certificate must be presented to the appropriate local assessment officer to receive the property assessment valuation under this Division. The local assessment officer must assess the property according to this Act. Beginning on January 1, 2000, all certified Section 515 low‑income housing projects shall be assessed in accordance with Section 10‑245.
    (b) Beginning with taxable year 2004, all low‑income housing projects that qualify for the low‑income housing tax credit under Section 42 of the Internal Revenue Code shall be assessed in accordance with Section 10‑245 if the owner or owners of the low‑income housing project certify to the appropriate local assessment officer that the owner or owners qualify for the low‑income housing tax credit under Section 42 of the Internal Revenue Code for the property.
(Source: P.A. 93‑533, eff. 1‑1‑04; 93‑755, eff. 7‑16‑04.)

    (35 ILCS 200/10‑255)
    Sec. 10‑255. Rules. The Department of Revenue may adopt rules to implement and administer this Division.
(Source: P.A. 91‑651, eff. 1‑1‑00.)

    (35 ILCS 200/10‑260)
    Sec. 10‑260. Low‑income housing. In determining the fair cash value of property receiving benefits from the Low‑Income Housing Tax Credit authorized by Section 42 of the Internal Revenue Code, 26 U.S.C. 42, emphasis shall be given to the income approach, except in those circumstances where another method is clearly more appropriate.
(Source: P.A. 91‑502, eff. 8‑13‑99; 92‑16, eff. 6‑28‑01.)

      (35 ILCS 200/Art. 10 Div. 12 heading)
DIVISION 12. VETERANS ORGANIZATION PROPERTY

    (35 ILCS 200/10‑300)
    Sec. 10‑300. Veterans organization assessment freeze.
    (a) For the taxable year 2000 and thereafter, the assessed value of real property owned and used by a veterans organization chartered under federal law, on which is located the principal building for the post, camp, or chapter, and, for taxable years 2004 and thereafter, the assessed value of real property owned by such an organization and used by the organization's members and guests for parking at the principal building for the post, camp, or chapter, must be frozen by the chief county assessment officer at (i) 15% of the 1999 assessed value of the property for property that qualifies for the assessment freeze in taxable year 2000 or (ii) 15% of the assessed value of the property for the taxable year that the property first qualifies for the assessment freeze after taxable year 2000. If, in any year, improvements or additions are made to the property that would increase the assessed value of the property were it not for this Section, then 15% of the assessed value of such improvements shall be added to the assessment of the property for that year and all subsequent years the property is eligible for the freeze.
    (b) The veterans organization must annually submit an application to the chief county assessment officer on or before (i) January 31 of the assessment year in counties with a population of 3,000,000 or more and (ii) December 31 of the assessment year in all other counties. The initial application must contain the information required by the Department of Revenue, including (i) a copy of the organization's congressional charter, (ii) the location or description of the property on which is located the principal building for the post, camp, or chapter, (iii) a written instrument evidencing that the organization is the record owner or has a legal or equitable interest in the property, (iv) an affidavit that the organization is liable for paying the real property taxes on the property, and (v) the signature of the organization's chief presiding officer. Subsequent applications shall include any changes in the initial application and shall be signed by the organization's chief presiding officer. All applications shall be notarized.
    (c) This Section shall not apply to parcels exempt under Section 15‑145.
(Source: P.A. 92‑16, eff. 6‑28‑01; 93‑753, eff. 7‑16‑04.)

      (35 ILCS 200/Art. 10 Div. 13 heading)
DIVISION 13. FRATERNAL ORGANIZATION PROPERTY

    (35 ILCS 200/10‑350)
    Sec. 10‑350. Fraternal organization assessment freeze.
    (a) For the taxable year 2001 and thereafter, the assessed value of real property owned and used by a fraternal organization chartered by the State of Illinois prior to 1900, or its subordinate organization or entity, (i) that prohibits gambling and the use of alcohol on the property, (ii) that is an exempt entity under Section 501(c)(10) of the Internal Revenue Code, and (iii) whose members provide, directly or indirectly, financial support for charitable works, which may include medical care, drug rehabilitation, or education, shall be established by the chief county assessment officer as follows:
        (1) if the property meets the qualifications set
    
forth in this Section on January 1, 2001 and on January 1 of each subsequent assessment year, for assessment year 2001 and each subsequent assessment year, the final assessed value of the property shall be 15% of the final assessed value of the property for the assessment year 2000; or
        (2) if the property first meets the qualifications
    
set forth in this Section on January 1 of any assessment year after assessment year 2001 and on January 1 of each subsequent assessment year, for that first assessment year and each subsequent assessment year, the final assessed value shall be 15% of the final assessed value of the property for the assessment year in which the property first meets the qualifications set forth in this Section.
    If, in any year, additions or improvements are made to property subject to assessment under this Section and the additions or improvements would increase the assessed value of the property, then 15% of the final assessed value of the additions or improvements shall be added to the final assessed value of the property for the year in which the additions or improvements are completed and for all subsequent years that the property is eligible for assessment under this Section.
    (b) For purposes of this Section, "final assessed value" means the assessed value after final board of review action.
    (c) Fraternal organizations whose property is assessed under this Section must annually submit an application to the chief county assessment officer on or before (i) January 31 of the assessment year in counties with a population of 3,000,000 or more and (ii) December 31 of the assessment year in all other counties. The initial application must contain the information required by the Department of Revenue, which shall prepare the form, including:
        (1) a copy of the organization's charter from the
    
State of Illinois, if applicable;
        (2) the location or legal description of the
    
property on which is located the principal building for the organization, including the PIN number, if available;
        (3) a written instrument evidencing that the
    
organization is the record owner or has a legal or equitable interest in the property;
        (4) an affidavit that the organization is liable for
    
paying the real property taxes on the property; and
        (5) the signature of the organization's chief
    
presiding officer.
    Subsequent applications shall include any changes in the initial application and shall affirm the ownership, use, and liability for taxes for the year in which it is submitted. All applications shall be notarized.
    (d) This Section does not apply to parcels exempt from property taxes under this Code.
(Source: P.A. 91‑834, eff. 1‑1‑01.)

    (35 ILCS 200/10‑355)
    Sec. 10‑355. Fraternal organization assessment freeze.
    (a) For the taxable year 2002 and thereafter, the assessed value of real property owned and used by a fraternal organization that on December 31, 1926 had its national headquarters in Illinois or that was chartered in Illinois in February 1898, or its subordinate organization or entity, that is exempt under Section 501(c)(8) of the Internal Revenue Code and whose members provide, directly or indirectly, financial support for charitable works, which may include medical care, drug rehabilitation, or education, shall be established by the chief county assessment officer as follows:
        (1) if the property meets the qualifications set
    
forth in this Section on January 1, 2002 and on January 1 of each subsequent assessment year, for assessment year 2002 and each subsequent assessment year, the final assessed value of the property shall be 15% of the final assessed value of the property for the assessment year 2001; or
        (2) if the property first meets the qualifications
    
set forth in this Section on January 1 of any assessment year after assessment year 2002 and on January 1 of each subsequent assessment year, for that first assessment year and each subsequent assessment year, the final assessed value shall be 15% of the final assessed value of the property for the assessment year in which the property first meets the qualifications set forth in this Section.
    If, in any year, additions or improvements are made to property subject to assessment under this Section and the additions or improvements would increase the assessed value of the property, then 15% of the final assessed value of the additions or improvements shall be added to the final assessed value of the property for the year in which the additions or improvements are completed and for all subsequent years that the property is eligible for assessment under this Section.
    (b) For purposes of this Section, "final assessed value" means the assessed value after final board of review action.
    (c) Fraternal organizations whose property is assessed under this Section must annually submit an application to the chief county assessment officer on or before (i) January 31 of the assessment year in counties with a population of 3,000,000 or more and (ii) December 31 of the assessment year in all other counties. The initial application must contain the information required by the Department of Revenue, which shall prepare the form, including:
        (1) a copy of the organization's charter from the
    
State of Illinois, if applicable;
        (2) the location or legal description of the
    
property on which is located the principal building for the organization, including the PIN number, if available;
        (3) a written instrument evidencing that the
    
organization is the record owner or has a legal or equitable interest in the property;
        (4) an affidavit that the organization is liable for
    
paying the real property taxes on the property; and
        (5) the signature of the organization's chief
    
presiding officer.
    Subsequent applications shall include any changes in the initial application and shall affirm the ownership, use, and liability for taxes for the year in which it is submitted. All applications shall be notarized.
    (d) This Section does not apply to parcels exempt from property taxes under this Code.
(Source: P.A. 92‑388, eff. 1‑1‑02; 92‑859, eff. 1‑3‑03.)

    (35 ILCS 200/10‑360)
    Sec. 10‑360. Fraternal organization assessment freeze.
    (a) For the taxable year 2003 and thereafter, the assessed value of real property owned and used by a fraternal organization or its affiliated Illinois not for profit corporation chartered prior to 1920 that is an exempt entity under Section 501(c)(2), 501(c)(8) or 501(c)(10) of the Internal Revenue Code and whose members provide, directly or indirectly, financial support for charitable works, which may include medical care, drug rehabilitation, or education, shall be established by the chief county assessment officer as follows:
        (1) if the property meets the qualifications set
    
forth in this Section on January 1, 2003 and on January 1 of each subsequent assessment year, for assessment year 2003 and each subsequent assessment year, the final assessed value of the property shall be 15% of the final assessed value of the property for the assessment year 2002; or
        (2) if the property first meets the qualifications
    
set forth in this Section on January 1 of any assessment year after assessment year 2003 and on January 1 of each subsequent assessment year, for that first assessment year and each subsequent assessment year, the final assessed value shall be 15% of the final assessed value of the property for the assessment year in which the property first meets the qualifications set forth in this Section.
    If, in any year, additions or improvements are made to property subject to assessment under this Section and the additions or improvements would increase the assessed value of the property, then 15% of the final assessed value of the additions or improvements shall be added to the final assessed value of the property for the year in which the additions or improvements are completed and for all subsequent years that the property is eligible for assessment under this Section.
    (b) For purposes of this Section, "final assessed value" means the assessed value after final board of review action.
    (c) Fraternal organizations or their affiliated not for profit corporations whose property is assessed under this Section must annually submit an application to the chief county assessment officer on or before (i) January 31 of the assessment year in counties with a population of 3,000,000 or more and (ii) December 31 of the assessment year in all other counties. The initial application must contain the information required by the Department of Revenue, which shall prepare the form, including:
        (1) the location or legal description of the
    
property on which is located the principal building for the organization, including the PIN number, if available;
        (2) a written instrument evidencing that the
    
organization or not for profit corporation is the record owner or has a legal or equitable interest in the property;
        (3) an affidavit that the organization or not for
    
profit corporation is liable for paying the real property taxes on the property; and
        (4) the signature of the organization's or not for
    
profit corporation's chief presiding officer.
    Subsequent applications shall include any changes in the initial application and shall affirm the ownership, use, and liability for taxes for the year in which it is submitted. All applications shall be notarized.
    (d) This Section does not apply to parcels exempt from property taxes under this Code.
(Source: P.A. 92‑859, eff. 1‑3‑03.)

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