Illinois SB1911 amends the Property Tax Code to establish special assessment programs for affordable housing.
Illinois SB1911 amends the Property Tax Code to create special assessment programs for affordable housing. These programs reduce the assessed value of newly constructed or substantially rehabilitated residential real property. To qualify, properties must meet specific criteria, including compliance with local building codes and the replacement or renovation of primary building systems. The bill outlines detailed requirements for various building components, such as roofing, electrical systems, and heating.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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