IL HB3217

Caps annual assessed value increases for non-income producing wooded acreage at 4% over the previous year's assessment

Applies to assessment years 2025 through 2039, or until the property no longer qualifies for this special assessment treatment

Defines "non-income producing wooded acreage" as wooded property that does not generate annual net income as defined elsewhere in the Property Tax Code

Amends the Property Tax Code by adding Section 10-511

Takes effect immediately upon becoming law