SB3003 mandates income-producing property owners in certain Illinois counties to submit physical property descriptions to the chief county assessment.
SB3003 amends the Property Tax Code to require owners of income-producing properties in specified counties to file physical descriptions of their properties with the chief county assessment officer. These descriptions must include details such as the size and location of office areas, the number of loading bay doors, and the property's electrical capacity. The bill also outlines exemptions from disclosure for certain types of information and sets penalties for non-compliance, including fines up to $1,000 per property.
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