IL HB1818

Requires township assessors, multi-township assessors, and chief county assessment officers to make assessment records available online for immediate public inspection if records are already maintained electronically, and to convert non-electronic records to electronic format as soon as feasible

Expands the required disclosure of valuation elements in property records for counties with 3,000,000+ inhabitants to include capitalization rates, tax loads, rental income data, expense ratios, net income, vacancy rates, depreciation factors, and comparable sales data

Establishes that any assessment increase shall be considered invalid by the board of review, Property Tax Appeal Board, or circuit court if records do not sufficiently explain how the property valuation was determined

Removes the provision that courts must consider tax objections without regard to the correctness of assessment practices, procedures, or methods used by assessors or boards of review, and without regard to intent or motivation of assessing officials

Allows taxpayers to name additional defendants beyond the county collector in tax objection complaints and requires defendants to answer or otherwise plead within 30 days of the first case management order