More Demands from the Cook County Assessor

It appears that all of the thousands of appraisal reports, operating and occupancy statements, rent rolls and assessor required forms that are filed by property taxpayers each year to support their appeals, still don't provide the Assessor's Office with enough information to derive fair and equitable assessments for commercial and industrial properties. Hence the need to introduce HB 1287, which I have provided below. Please forgive the line item notations. This bill mandates that owners of income producing property, save for those income producing properties having a market value not exceeding $500,000, or residential buildings not exceeding 6 units, shall file physical descriptions of their properties with the chief county assessor in the form and format determined by the chief county assessor. Effective immediately.

There are financial penalties for failure to comply, and annual updates are also required.

103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB1287        

Introduced 1/31/2023, by Rep. William "Will" Davis , Hazel Crest

35 ILCS 200/9-285 new ??

HB1287

1????AN ACT concerning revenue. ?2????Be it enacted by the People of the State of Illinois,3represented in the General Assembly: ?4????Section 5. The Property Tax Code is amended by adding5Section 9-285 as follows: ?6????(35 ILCS 200/9-285 new)7????Sec. 9-285. Real property descriptions.8????(a) This Section applies to all counties with 3,000,000 or9more inhabitants and to all counties in which the county board10provides, by ordinance or resolution, that owners of11income-producing properties must comply with subsection (b).12????(b) Owners of income-producing properties shall file13physical descriptions of their properties with the chief14county assessor, in the form and format determined by the15chief county assessor, within 120 days after:16????????(1) the effective date of this amendatory Act of the17????103rd General Assembly, for counties with 3,000,000 or18????more inhabitants; or19????????(2) the effective date of the ordinance or resolution20????adopted by the county board under subsection (a), for any21????other counties to which this Section applies.22????After making the initial filing under subsection (b), a23property owner shall also update the filing within 120 days

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1after any material change in the physical description.2????(c) If the owner fails to submit the required physical3description or fails to adequately explain why no submission4is required, the owner shall pay a penalty to the chief county5assessment officer of up to 0.025% of the prior year's market6value, as indicated by the most recent certified assessed7value for the property at issue, but in no case shall the owner8be required to pay more than a maximum penalty of $1,000 per9property. The chief county assessment officer shall review all10submissions and determine whether the owner provided11sufficient evidence that he or she was not required to report a12property description or that the submission complies based on13available documentation.14????If a party is dissatisfied with a decision of the chief15county assessment officer, the party may request review of16that decision. Upon such a request, at least 30 days' notice17shall be provided to the party of a hearing to be conducted by18a hearing officer designated by the chief county assessment19officer. If a party is dissatisfied with a hearing officer's20decision, the party may appeal that decision to the circuit21court of the county in which the property is located as a final22administrative decision under the Administrative Review Law.23If a party is unsuccessful at hearing, the penalty imposed24under this Section shall bear interest at 0.05% per month25thereafter, beginning 21 days after the date of the decision26or 21 days after the date of the issuance of a final decision

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1on administrative review.2????(d) Definitions. As used in this Section:3????"Income-producing property" means property that is not4owner-occupied, as defined in this Section, and that is owned5for the purpose of generating income from the property itself,6regardless of whether the property actually generates income7in a particular year. "Income-producing property" does not8include:9????????(1) property with a market value of $500,000 or less10????in the most recent assessment year for which an assessment11????is certified exclusive of any adjustments to assessed12????value by a board of review, the Property Tax Appeal Board,13????or the circuit court;14????????(2) residential property containing 6 or fewer15????dwelling units;16????????(3) property assessed under Article 10 of this Code17????and stadiums that are not qualified property under Section18????10-215 that have a seating capacity of 20,000 or more and19????host major professional sporting events;20????????(4) property that is assessed by the Department under21????Article 11 of this Code;22????????(5) property that is owned or leased by a hospital23????licensed under the Hospital Licensing Act or operated24????under the University of Illinois Hospital Act, including25????any hospital affiliate that directly or indirectly26????controls, is controlled by, or is under common control

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1????with a hospital; or2????????(6) property that is owned or leased by a facility3????licensed under the Nursing Home Care Act that is an4????intermediate or skilled facility.5????"Net rentable area" means the square footage of an6improvement that may be leased or rented to tenants, excluding7common areas such as elevators, stairways, and atriums.8????"Owner-occupied" means real property that is used or9occupied exclusively by a record owner or related entity, or10real property having 80% or more of its net rentable area11occupied or held for future use by the record owner of the12property or a related person or entity as described in13subsection (b) of Section 267 of the Internal Revenue Code. If14more than 20% of the net rentable area of a property is subject15to an existing lease or is subject to a short-term rental by an16unrelated entity, the property is not considered17owner-occupied for purposes of this Section.18????"Physical description" means the land size and, for each19individual development on the parcel, information about the20construction type, year built, total development size,21electrical supply capacity in megawatts, cooling and heating22system capacity, floor load bearing capacity, number of23buildings, number of stories in each building, and parking24capacity.25????For multi-family residential properties of 6 or more26units, "physical description" also includes the size and use

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1of the basement area, the number of studio, 1-bedroom,22-bedroom, 3-bedroom, and larger units; the pool area (if3any); the exercise area (if any); lower level uses; and the4number of units, if any, that are enrolled in any5government-administered affordable housing program.6????For office properties, "physical description" also7includes the net rentable area, the size and use of the8basement area, lower level uses, ceiling height, whether or9not each unit is used for medical services, and whether or not10buildings on the property share a central plant.11????For retail properties, "physical description" also12includes the net rentable area, the size and uses of the13basement area, the size and use of lower levels, the ceiling14height, and the total customer capacity.15????For industrial properties, "physical description" also16includes the size and location of office area or areas,17ceiling height, the size and location of docks, the number and18size of loading bay doors, and the primary tenant or business19entity.20????For hospitality properties, "physical description" also21includes the size of any conference area, the size and use of22the basement area, the room count, the suite count, the size23and location of lounge areas, the size and location of24restaurant areas, franchise affiliation, the size and location25of any pool area, and lower level uses.26????"Property" has the meaning set forth in Section 1-130 of

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1this Code and includes contiguous parcels or property index2numbers that comprise one functional property location. ?3????Section 99. Effective date. This Act takes effect upon4becoming law.

This is an onerous and unnecessary bill and should be strongly lobbied against by all interested taxpayers and taxpayer groups.