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IL SB1929
Bill
AI Summary
- Amends Section 1-55 of the Property Tax Code regarding the definition of "33 1/3%"
- Makes a technical correction by removing a redundant instance of the word "the" in the definition language
- Defines 33 1/3% as one-third of the fair cash value of property as determined by the Department's sales ratio studies for the 3 most recent years preceding the assessment year
- Adjustment accounts for any changes in assessment levels implemented since the sales ratio study data were collected
Legislative Description
REVENUE-TECH
Last Action
Session Sine Die
1/9/2019
Committee Referrals
Assignments2/10/2017
Full Bill Text
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