reglab/housing_qa huggingface dataset:
35 ILCS 200/10-166
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-166.         Registered land or land encumbered by conservation rights;  valuation. Except in counties with more than 200,000 inhabitants that classify  property for the purpose of taxation, to the extent any portion of any lot,  parcel, or tract of land is (i) registered in perpetuity under Section 16 of  the Illinois Natural Areas Preservation Act, or (ii) encumbered in perpetuity  by a conservation right, as defined in the Real Property Conservation Rights  Act, if the conservation right has been conveyed and accepted in accordance  with Section 2 of the Real Property Conservation Rights Act, recorded under  Section 5 of that Act, and yields a public benefit as defined in Section 10-167  of this Act, upon application under Section 10-168, the portion of the lot,  parcel, or tract of land registered or encumbered shall be valued at 8-1/3% of  its fair market value estimated as if it were not registered or encumbered; and  any improvement, dwelling, or other appurtenant structure present on any  registered or encumbered portion of land shall be valued at 33-1/3% of its fair  market value. Beginning with the 1995 tax year in counties with more than  200,000 inhabitants that classify property for the purpose of taxation, to the  extent any portion of a lot, parcel, or tract of land is (i) registered in  perpetuity under Section 16 of the Illinois Natural Areas Preservation Act or  (ii) encumbered in perpetuity by a conservation right, as defined in the Real  Property Conservation Rights Act, if the conservation right has been conveyed  and accepted in accordance with Section 2 of the Real Property Conservation  Rights Act, recorded under Section 5 of that Act, and yields a public benefit  as defined in Section 10-167 of this Code, upon application under Section  10-168, the portion of the lot, parcel, or tract of land registered or  encumbered shall be valued at 25% of that percentage of its fair market value  established under this Code, by an ordinance adopted under Section 4 of Article  IX of the Illinois Constitution, or both, as the case may be; and any  improvement, dwelling, or other appurtenant structure present on any registered  or encumbered portion of the land shall be valued at that percentage of fair  market value established under this Code, by an ordinance adopted under Section  4 of Article IX of the Illinois Constitution, or both, as the case may be.  To qualify for valuation under this Section, the  registration agreement or conservation right establishing an encumbrance shall  prohibit the construction of any other structure on the registered or  encumbered land except replacement structures, no larger than the previous  structures which are replaced, that do not interfere with or destroy the  registration or conservation right.The valuation provided for in this Section shall not apply to any land that  has been valued as open space land under Section 10-155.    (Source: P.A. 88-657, eff. 1-1-95.)
35 ILCS 200/10-167
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-167.     Definition of public benefit; certification.(a) A conservation right on land shall be considered to provide a  demonstrated public benefit if the Department of Natural Resources certifies  that it protects in perpetuity at least one of the  following:(1) Land providing a regular opportunity for public     access to outdoor recreation or outdoor education.(2) Land preserving habitat for State or federal     endangered or threatened species or federal candidate species as defined in the Code of Federal Regulations (50 CFR 424.02).(3) Land identified in the Illinois Natural Areas     Inventory.(4) Land determined to be eligible for registration     under Section 16 of the Illinois Natural Areas Preservation Act.(5) Land contributing to the ecological viability of     a park, conservation area, nature preserve, or other high quality native terrestrial or aquatic area that is publicly owned or otherwise protected.(6) Land included in, or consistent with a federal,     State, regional, or local government policy or plan for the conservation of wildlife habitat or open space, for the restoration or protection of lakes and streams, or for the protection of scenic areas.(b) The person liable for taxes on the land shall submit an application to  the Department of Natural Resources requesting certification that the land  meets one of the criteria established in subsection (a).  The application shall  be in a form furnished by the Department of Natural Resources.  Within 30 days  of receipt of a complete and correct application for certification, the  Department of Natural Resources shall determine whether the land encumbered by  a conservation right provides a demonstrated public benefit and shall inform  the applicant in writing of the decision.    (Source: P.A. 91-357, eff. 7-29-99.)
35 ILCS 200/10-168
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-168.         Valuation of registered land or land encumbered by  conservation rights; application process.(a) The person liable for taxes on land eligible for assessment under  Section 10-166 must file a verified application requesting the  registered land or conservation rights valuation with the chief county  assessment officer by January 31 of the first year that the valuation is  desired.  If the application is not filed by January 31, the taxpayer waives  the right to claim that valuation for that year.  The application  shall be in the form prescribed by the Department and shall contain information  as may reasonably be required to determine whether the applicant meets the  requirements of Section 10-166.  If the application shows the applicant is  entitled to the valuation, the chief county assessment officer shall approve  it and maintain that valuation until notified as provided in Section 10-169.  Otherwise, the application shall be rejected. The application shall be  accompanied by the certification provided for in Section 10-167, if required.(b) When the application has been filed with and approved by the chief  county assessment officer, he or she shall determine the valuation of the land  as otherwise permitted by law and as required under Section 10-166, and shall  keep a record of that valuation.    (Source: P.A. 88-657, eff. 1-1-95.)
35 ILCS 200/10-169
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-169.         Land no longer registered or encumbered by conservation  rights.(a) In the event the registration agreement or conservation right by which a  portion of land has been valued under Section 10-166 is released or amended and  for purposes of a conservation right has the effect of substantially  diminishing the public benefit, the person liable for taxes on the land shall  notify the chief county assessment officer in writing by certified mail within  30 days after the release or amendment. The person liable for taxes on the land  that is no longer registered or encumbered by the conservation right shall pay  the county collector, by the following September 1, the difference between the  taxes paid in the 10 preceding years or, in the event the reduced valuation has  been in effect for less than 10 preceding years, the difference between the  taxes for the years the reduced valuation has been in effect  as based on a valuation under Section 10-166 and what  the taxes for those years would have been when based on the valuation as  otherwise permitted by this Code, by ordinance adopted under Section 4 of  Article IX of the Illinois Constitution, or both, as the case may be, together  with 10% interest. If the difference is not paid by the following September 1,  the amount of that difference shall be considered as delinquent taxes. In the  event the person liable for taxes on the land fails to notify the chief county  assessment officer in writing by certified mail within 30 days after the  release or amendment of the conservation rights, the property shall be treated  as omitted property under the provisions of this Code.(b) Subsection (a) shall not apply if:(1) the registration agreement or conservation right     is released, terminated, or extinguished pursuant to an acquisition by eminent domain of the land registered or encumbered by the conservation right, provided that for purposes of a conservation right the compensation for the conservation right is paid to the grantee of the conservation right; or(2) the registration agreement or conservation right     is released, terminated, or extinguished in an involuntary judicial proceeding, provided that for purposes of a conservation right all of the proceeds from a sale, exchange, or involuntary conversion of the conservation right are paid to the grantee of the conservation right; or(3) the conservation right is released, terminated,     or extinguished by the grantee of the conservation right without the consent of the owner of the property encumbered by the conservation right, provided that the owner of the encumbered property subsequently conveys or, in good faith and in cooperation with the Department of Natural Resources, attempts to convey a new conservation right that encumbers the same property and qualifies for valuation under Section 10-166 within 12 months of the release, termination, or extinguishment of the prior conservation right.   (Source: P.A. 88-657, eff. 1-1-95; 89-445, eff. 2-7-96.)
35 ILCS 200/Art. 10 Div. 7 heading
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

 Division 7.      Coal
35 ILCS 200/10-170
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-170.     Valuation of coal.     The equalized assessed value of each tract  of real property constituting coal shall be determined under Sections 10-175  through 10-200.    (Source: P.A. 85-1359; 88-455.)
35 ILCS 200/10-175
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-175.     Undeveloped coal.     All undeveloped coal in property on which  there has been no mining during the year immediately preceding the assessment  date shall for the purposes of this Code have an undeveloped coal reserve  economic value of no more than $75 per acre.  There shall be no per acre  undeveloped coal reserve economic value for persons not in the business of  mining who have not severed the coal from the land  by deed or lease.    (Source: P.A. 85-1359; 88-455.)
35 ILCS 200/10-180
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-180.     Developed coal.     Developed coal shall be assessed at 33 1/3% of  the developed coal reserve economic value determined as follows:Developed Coal Reserve Economic Value equals the present value of the  anticipated net income from the property during the life used to determine  the developed coal.(a) The interest rate to be used for determining present value shall be  the arithmetic average prime interest rate quoted by the 4 largest United  States banks as measured by total assets located within the Chicago  metropolitan statistical area as defined by the United States Department of  Commerce as of the current assessment date and the 2 preceding assessment  dates, plus 3%.(b) Net income means 4% of the average spot market price for  Illinois coal as published in a recognized publication prescribed by the  Department, as of the current assessment date and the 2 preceding assessment  dates, multiplied by the number of recoverable tons per acre.(c) Recoverable coal tons per acre equals 1,742 tons per foot acre  multiplied by seam thickness, and then multiplied by the recovery ratio.(d) Coal seam thickness means the average thickness of the coal seam or  seams where coal is initially extracted.(e) Recovery ratio means the lesser of 80% for coal extracted  by surface mining methods and 50% for coal extracted by  underground mining methods or the actual historical recovery ratio for the  mining operation.(f) The total assessed value of developed coal shall be attributed  equally to the coal acreage that is anticipated to be mined.(g) Change in the per acre assessed value of coal shall not  exceed 10% in any one year except when a change of acreage classification  occurs.    (Source: P.A. 85-1359; 88-455.)
35 ILCS 200/10-185
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-185.     Prorated assessment.     When initial mining commences after the  assessment date, or when all mining ceases prior to the end of a calendar year,  the coal as assessed pursuant to Section 10-180 shall be assessed on a  proportionate basis in accordance with Section 9-180.  For purposes of this  Section any permitted acreage that is to be mined during the current year which  is not included in the anticipated 5 year mine acreage due to a change in the  mining plan shall not be subject to assessment on a proportionate basis in  accordance with Section 9-180.    (Source: P.A. 85-1359; 88-455.)
35 ILCS 200/10-190
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-190.     Cessation of mining.     When mining has taken place during the  year immediately preceding the assessment date, but has completely ceased as of  the assessment date, all remaining unmined coal shall be valued pursuant to  Section 10-175.    (Source: P.A. 85-1359; 88-455.)
35 ILCS 200/10-195
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-195.     Incremental assessment.     Coal assessed under Sections 10-180  and 10-185 shall be added to the tax roll in the following increments as  determined by the assessment date:1993 - 70% of the assessed value1994 - 80% of the assessed value1995 - 90% of the assessed value1996 and thereafter - 100% of the assessed valueCoal assessments, including assessments based on the value of coal,  that were in effect January 1, 1986 shall be reduced to the undeveloped  coal reserve economic assessed value per acre under Section 10-175 in  annual increments as follows:1993 - 30% of the 1986 unequalized assessed value1994 - 20% of the 1986 unequalized assessed value1995 - 10% of the 1986 unequalized assessed value1996 and thereafter - the undeveloped coal reserve         economic assessed value   (Source: P.A. 85-1359; 88-455.)
35 ILCS 200/10-200
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-200.     Coal not subject to State equalization.     Except as provided in  this Section, the assessed valuation of coal assessed under Sections 10-170  through 10-195 shall not be subject to equalization by means of State  equalization factors or State multipliers.  Equalization factors applied by a  chief county assessment officer or a Board of Review pursuant to Sections 9-205  and 16-65 shall be applied to assessments of coal only to achieve assessments  as required by Sections 10-170 through 10-195.    (Source: P.A. 85-1359; 88-455.)
35 ILCS 200/Art. 10 Div. 8 heading
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

 Division 8.      Sports stadiums
35 ILCS 200/10-205
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-205.     Sports stadium property.     For purposes of the property tax laws  of this State, qualified property in municipalities with more than 2,000,000  inhabitants shall be classified and valued as set forth in Sections 10-210  through 10-220 during the period beginning July 1, 1989, and ending with the  year 22 years after the base year.    (Source: P.A. 86-110; 88-455.)
35 ILCS 200/10-210
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-210.     Definitions.     For purposes of Sections 10-205, 10-215, and  10-220:(a) "Base year" means the first tax year after the tax year in  which construction of the new stadium is completed.(b) "Tax year" means the calendar year for which assessed value  is determined as of January 1 of that year.(c) "Base period" means the calendar year immediately preceding  the tax year.(d) "Interest" for the base period means the annual interest that would  accrue on a principal amount equal to 100% of all costs (including  construction period interest actually incurred) incurred with respect to  the acquisition, construction or improvement of property described in  subsection (a) of Section 10-215 through the end of the base period, if the  interest rate were equal to the average, compounded quarterly, of the  corporate base rate reported as in effect on the first business day of each  month of the base period by the largest bank (measured by assets) with its  head office located in Chicago, Illinois.(e) "Income taxes" for the base period shall mean federal and State  income taxes computed by multiplying the taxable income from the property  by the lower of (1) the highest tax rates applicable to individuals or (2)  the highest tax rates applicable to corporations.    (Source: P.A. 86-110; 88-455.)
35 ILCS 200/10-215
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-215.     Qualified property.     Qualified property means:(a) a new stadium having a seating capacity in excess of 18,000 and less  than 28,000 which is constructed primarily for the purpose of holding  professional sports and amusement events and construction of which is  commenced after July 1, 1989, or any parking lot or parking garage for  participants, spectators or staff which is acquired, constructed or  improved at any time primarily for use in connection with the stadium, or any  property on which the stadium, lot or garage is located;(b) property that would qualify as property described in subsection (a) of  this Section, except that construction of the new stadium is not completed by  the first day of the tax year; or(c) any parking lot or parking garage that is located within 3,000 feet of  property described in subsection (a) of this Section, that is used primarily in  connection with any existing stadium or with property described in subsection  (a) of this Section, and that was employed for those uses prior to July 1,  1989, or any property on which the lot or garage is located.    (Source: P.A. 86-110; 88-455.)
35 ILCS 200/10-220
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-220.     Valuation.(a) For the base year and subsequent tax years, property described in  subsection (a) of Section 10-215 shall be classified so that it is valued in  relation to 20% of the property's fair cash value. The fair cash value of the  property shall be equal to 4 times the annual net income (revenues net of all  expenses, including interest, income taxes, and all property maintenance or  replacement expenditures whether or not capital in nature, but not including  depreciation) actually earned by its owners from the property during the base  period.(b) For any tax year prior to the base year, property described in  subsections (b) and (c) of Section 10-215 shall be classified and valued so  that the fair cash value of the property does not exceed the fair cash  value of the property for the 1989 tax year, as adjusted by the percentage  increase in valuation of all property in the municipality between 1989 and  the tax year.(c) The fair cash value of property described in Section 10-215 shall be  determined as specified in this Section and without taking into account (1)  the planned or actual construction and improvement of property described in  subsection (a) of Section 10-215, or (2) any acquisition, replacement or  resale values or alternative uses assumed or imputed in contemplation or in  consequence of such planned or actual construction and improvement.(d) Notwithstanding any other provision of this Section, including  subsection (c), the aggregate of all property taxes payable on the  property described in Section 10-215 shall not be less than:(1) for any tax year prior to the base year, the     aggregate property taxes payable on such property for the 1988 tax year;(2) for the base year, $600,000;(3) for the first tax year following the base year,     $735,000;(4) for the second tax year following the base year,     $870,000;(5) for the third tax year following the base year     and for each tax year thereafter, $1,000,000.   (Source: P.A. 86-110; 88-455.)
35 ILCS 200/10-223
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-223.     Former farm; open space.     Beginning with the 1992 assessment  year, the equalized assessed value of any tract of real property that has not  been used as a farm for 20 or more consecutive years shall not be determined  under Sections 10-110 through 10-140. If no other use is established, the tract  shall be considered to be used for open space purposes and its valuation shall  be determined under Sections 10-155 through 10-165.    (Source: P.A. 87-1270; incorporates 88-45; 88-670, eff. 12-2-94.)
35 ILCS 200/Art. 10 Div. 9 heading
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

 Division 9.      Nurseries
35 ILCS 200/10-225
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-225.     Stock of nurseries.     The stock of nurseries,  when growing, shall be assessed as property and when severed shall be  considered merchandise.    (Source: Laws 1941, vol. 1, p. 1062; P.A. 88-455.)
35 ILCS 200/Art. 10 Div. 10 heading
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

 Division 10.      Electric Power Generating Stations
35 ILCS 200/Art. 10 Div. 11 heading
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

 Division 11.      Low-income housing
35 ILCS 200/10-235
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 3 - Valuation and Assessment

Sec. 10-235. Low-income housing project valuation policy;  intent. It is the policy of this State that low-income housing projects  developed under Section 515 of the federal Housing Act or that qualify for the low-income housing tax credit under Section 42 of the  Internal Revenue Code shall be valued at 33 and  one-third percent of the fair market value of their economic productivity  to the owners of the projects to help insure that their valuation for  property taxation does not result in taxes so high that rent levels  must be raised to cover this project expense, which can cause excess  vacancies, project loan defaults, and eventual loss of rental housing  facilities for those most in need of them, low-income families and the  elderly.  It is the intent of this State that the valuation required by  this Division is the closest representation of cash value required by law  and is the method established as proper and fair.       (Source: P.A. 92-16, eff. 6-28-01; 93-533, eff. 1-1-04; 93-755, eff. 7-16-04.)