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IL SB3493
Bill
AI Summary
- Amends the Property Tax Code Section 1-55 regarding the definition of "33 1/3%"
- Makes a technical correction to the language defining 33 1/3% as one-third of fair cash value of property
- Definition is based on Department sales ratio studies from the 3 most recent years preceding the assessment year
- Adjustment accounts for any changes in assessment levels implemented since the study data were collected
Legislative Description
REVENUE-TECH
Last Action
Session Sine Die
1/9/2019
Committee Referrals
Assignments2/16/2018
Full Bill Text
No bill text available