Illinois § 11-145

Illinois Statutes

§ 11-145

Illinois § 11-145

JurisdictionIllinois

TopicGOVERNMENT

Ch. 35REVENUE

Act 35 ILCS 200/Property Tax Code.

Art.Title 3 - Valuation and Assessment

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Bluebook

35 Ill. Comp. Stat. 11-145 (2026).

Text

Method of valuation for qualifying water treatment facilities. To determine 33 1/3% of the fair cash value of any qualifying water treatment facility in assessing the facility, the Department shall take into consideration the probable net value that could be realized by the owner if the facility were removed and sold at a fair, voluntary sale, giving due account to the expense of removal, site restoration, and transportation. The net value shall be considered to be 33 1/3% of fair cash value. The valuation under this Section applies only to the qualifying water treatment facility itself and not to the land on which the facility is located.

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Method of valuation for qualifying water treatment facilities. To determine 33 1/3% of the fair cash value of any qualifying water treatment facility in assessing the facility, the Department shall take into consideration the probable net value that could be realized by the owner if the facility were removed and sold at a fair, voluntary sale, giving due account to the expense of removal, site restoration, and transportation. The net value shall be considered to be 33 1/3% of fair cash value. The valuation under this Section applies only to the qualifying water treatment facility itself and not to the land on which the facility is located.