Audit of Illinois Department of Revenue's valuation and assessment of railroad properties.
The bill directs the Auditor General to conduct a performance audit of the Illinois Department of Revenue's (IDR) valuation and assessment of railroad companies' properties. The audit will focus on IDR's procedures for notifying local officials about property reclassification, incentivizing local assessors, and distributing statewide values to local taxing bodies. It will also examine the adequacy of IDR's formulas, processes, and deadlines for property classification challenges and hearings.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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