IL SB1160

Prohibits Illinois boards of review from considering comparable property sales subject to private restrictions or covenants when those restrictions substantially impair the comparable property's use compared to the property being assessed.

Prohibits boards of review from considering comparable sales where private restrictions or covenants materially increase the likelihood of vacancy or inactivity on the property.

Applies the same restrictions on comparable property evidence to the Property Tax Appeal Board in appeals involving non-residential property assessments.

Amends the Property Tax Code Section 16-55 and adds new Section 16-182 to establish these limitations on comparable sales evidence.

Takes effect immediately upon becoming law.