HB4356

Illinois HB4356 amends the Property Tax Code to limit property tax refund claims to 20 years from when the right to a refund arose.

Illinois HB4356 amends the Property Tax Code to establish a 20-year limit for filing claims for property tax refunds. This applies to claims resulting from orders of the Property Tax Appeal Board, circuit court orders, or certificates of error. The aggregate total of refunded taxes and interest cannot exceed $5,000,000 in any year. If a refund payment would exceed this limit, the refund is paid in the next succeeding year. The changes apply to refund claims filed after the effective date of the amendatory act.