Illinois Administrative Code › Title 86 - REVENUE › Part 110 - LEVELING THE PLAYING FIELD FOR ILLINOIS RETAIL ACT › Section 110.110 - Procedures for Assessment of Pollution Control Facilities and Low Sulphur Dioxide Emission Coal Fueled Devices

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 Assessment Procedure
1) The Department shall
			 assess property which has been certified by the Illinois Pollution Control
			 Board to be a pollution control facility or a low sulphur dioxide emission coal
			 fueled device in accordance with Section 11-25 or Section 11-50 of the Property
			 Tax Code [35 ILCS 200/11-25 and 11 -50] and this Part.
2) Pollution control facilities are to be
			 valued for property tax purposes in relation to the fair cash value of their
			 economic productivity to their owners. For the purpose of determining the fair
			 cash value of any pollution control facility the Department shall take into
			 consideration the actual or probable net earnings attributable to the facility
			 (capitalized on the basis of its productive earning value to its owner), the
			 probable net value which could be realized by its owner, if the facility was
			 removed and sold at a fair, voluntary sale (giving due account to the expense
			 of removal and condition of the particular facility) and such other information
			 as the Department may consider relevant.
3) For the purpose of determining the fair
			 cash value of low sulphur dioxide emission coal fueled devices for property tax
			 purposes, the Department shall determine such value to be the net value which
			 could be realized by its owner if the device were removed and sold at a fair,
			 voluntary sale, giving due account to the expense of removal, site restoration,
			 and transportation.
4) Upon
			 receiving written notification from the Pollution Control Board of the issuance
			 of a certificate that property in a county is a pollution control facility or a
			 low sulphur dioxide emission coal fueled device, the Department shall submit to
			 the County Board of Review or County Assessor, as the case may be, a copy of
			 the certification with all available descriptive information of the property so
			 certified. The Department shall also submit to such Board of Review or County
			 Assessor a notice on Form No. PTAX-400 that the local assessment, if any, which
			 is assigned to the property which has been so certified should be removed from
			 the tax roll. Such notice also shall recite the first assessment year for which
			 the removal from the local property tax roll is to be given effect.
5) Upon receipt of the notice described in
			 subsection (a)(4) of this Section the County Board of Review or Assessor shall
			 remove from the local property tax rolls, commencing with the assessment year
			 specified in the said notice, any valuation on such local property tax rolls
			 which can be identified as being directly attributable to the specific facility
			 which has been certified as a pollution control facility or a low sulphur
			 dioxide emission coal fueled device. The county officials shall notify the
			 Department on Form No. PTAX-400 of the action taken.
6) Upon the completion of the original
			 assessments to be made by the Department, it shall publish a full and complete
			 list of such assessments in the State's "official newspaper". Any person or
			 corporation feeling aggrieved by any such assessment may apply to the
			 Department for a review and correction, if necessary, of the assessment, in the
			 manner provided in Section
			 110.145
			 of this Part.