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| 1 | AN ACT concerning revenue.
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| 2 | Be it enacted by the People of the State of Illinois, | ||||||
| 3 | represented in the General Assembly:
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| 4 | Section 5. The Property Tax Code is amended by changing | ||||||
| 5 | Section 18-180 as follows:
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| 6 | (35 ILCS 200/18-180)
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| 7 | Sec. 18-180. Abatement; urban decay.
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| 8 | (a) Except as provided below, a home rule municipality upon | ||||||
| 9 | adoption of an
ordinance by majority vote of its governing | ||||||
| 10 | authority, may order the county
clerk to abate, for a period | ||||||
| 11 | not to exceed 10 years, any percentage of the
taxes levied by | ||||||
| 12 | the municipality and any other taxing district on each parcel
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| 13 | of property located in an area of urban decay within the | ||||||
| 14 | corporate limits of
the municipality and upon which a newly | ||||||
| 15 | constructed or newly remodeled single-family or duplex
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| 16 | residential dwelling unit is located, except that the total | ||||||
| 17 | abatement for
any levy year shall not be in an amount in excess | ||||||
| 18 | of 2% of the taxes
extended by all taxing districts on all | ||||||
| 19 | parcels located within the
township that contain residential | ||||||
| 20 | dwelling units of 6 units or less.
In the case of a newly | ||||||
| 21 | remodeled single-family or duplex
residential dwelling unit, | ||||||
| 22 | the amount of the abatement may not exceed the amount of | ||||||
| 23 | property taxes attributable to the improvements. An abatement | ||||||
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| 1 | adopted under this Section shall be extended to all subsequent
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| 2 | owners of an eligible property during the abatement period. The | ||||||
| 3 | ordinance
shall provide that the same percentage abatement of | ||||||
| 4 | taxes shall apply to
all eligible property subject to the | ||||||
| 5 | abatement ordinance,
except that any abatement granted for any | ||||||
| 6 | parcel that is within a
redevelopment area created under | ||||||
| 7 | Division 74.4 of Article 11 of the
Illinois Municipal Code at | ||||||
| 8 | the time the ordinance is adopted shall not exceed
the amount | ||||||
| 9 | of taxes allocable to taxing districts. No abatement adopted | ||||||
| 10 | under
this Section shall apply to a parcel of property if the | ||||||
| 11 | owner does not live in
the single-family or one of the duplex | ||||||
| 12 | residential units. Before final adoption
of an abatement | ||||||
| 13 | ordinance under this Section, the governing authority of the
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| 14 | home rule municipality shall notify by mail each affected | ||||||
| 15 | taxing district of
the pending ordinance. This Section does not | ||||||
| 16 | apply to property annexed by a
municipality after January 1, | ||||||
| 17 | 1989.
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| 18 | (b) The governing authority of each affected taxing | ||||||
| 19 | district shall
within 10 days appoint one member to serve on an | ||||||
| 20 | Abatement Review Board to
review the terms and conditions of | ||||||
| 21 | the proposed abatement ordinance. The
Board shall be convened | ||||||
| 22 | by the mayor or village president of the
municipality | ||||||
| 23 | considering the abatement ordinance. The ordinance shall not
be | ||||||
| 24 | adopted less than 45 days after the Board is convened. Failure | ||||||
| 25 | to
appoint a member to the Board does not affect work of the | ||||||
| 26 | Board. The Board
shall report the findings and conclusions to | ||||||
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| 1 | the governing authority of the
municipality not later than 30 | ||||||
| 2 | days after it is convened.
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| 3 | (c) Any abatement granted under this Section shall be | ||||||
| 4 | reduced in 20%
increments annually during the last 4 years of | ||||||
| 5 | the abatement period for
the property.
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| 6 | (d) For purposes of this Section:
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| 7 | (1) "Area of urban decay" means an area demonstrating | ||||||
| 8 | conditions of a
"blighted area" or "conservation area" as | ||||||
| 9 | defined by Section 11-74.4-3 of the
Illinois Municipal | ||||||
| 10 | Code, notwithstanding the minimum acreage requirement
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| 11 | contained in the definition of a "redevelopment project | ||||||
| 12 | area" under that
Section. Qualifying factors of blight or | ||||||
| 13 | conservation shall be defined as
those present within the | ||||||
| 14 | year prior to adoption of the ordinance designating
the | ||||||
| 15 | area of urban decay.
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| 16 | (2) "Duplex" means a 2 family residence that is not | ||||||
| 17 | more than 2
stories plus a basement in height and is | ||||||
| 18 | located on a single parcel of
property.
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| 19 | (3) "Newly constructed" means constructed and ready | ||||||
| 20 | for occupancy not
earlier than one year before the date the | ||||||
| 21 | municipality first orders the
abatement for the parcel | ||||||
| 22 | under this Section.
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| 23 | (4) "Newly remodeled" means that the property contains | ||||||
| 24 | improvements that were completed not
earlier than one year | ||||||
| 25 | before the date the municipality first orders the
abatement | ||||||
| 26 | for the parcel under this Section. | ||||||
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| 1 | (Source: P.A. 87-1189; 88-455.)
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