HB1609 amends the Property Tax Code to adjust the valuation of land registered under the Illinois Natural Areas Preservation Act and encumbered by.
HB1609 amends the Property Tax Code to modify the valuation of land registered under the Illinois Natural Areas Preservation Act and encumbered by conservation rights. It specifies that such land should be depreciated for assessment purposes. The bill also outlines the criteria for a conservation right to provide a demonstrated public benefit, including land that offers public access to outdoor recreation or education, preserves buffer areas, protects wildlife habitat, or is part of a government conservation policy.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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