Illinois Statutes
§ 11-145
Illinois·Topic GOVERNMENT·Ch. 35 REVENUE·Act 35 ILCS 200/ Property Tax Code.·Art. Title 3 - Valuation and Assessment
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.
Free access — add to your briefcase to read the full text and ask questions with AI
Illinois § 11-145 — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: P.A. 103-631, eff. 7-1-24.)
Nearby Sections
15
§ 11
§ 11§ 11-105
Description of railroad track§ 11-115
Failure to file schedules§ 11-120
Platting by railroad company§ 11-130
Legislative findings§ 11-135
Definitions§ 11-140
Valuation policy§ 11-145
§ 11-145§ 11-155
Assessment authority