Bill Text: IL HB2382 | 2025-2026 | 104th General Assembly | Introduced

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Bill Title: Amends the Property Tax Code. In provisions concerning platted and subdivided but undeveloped property, provides that (i) beginning with the 2025 taxable year, no property's assessed value shall be reduced to less than $150 under those provisions and (ii) beginning with the 2035 taxable year, no property shall be eligible for calculation of its assessed value under those provisions for more than a 10-year period.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2025-01-31 - Filed with the Clerk by Rep. Natalie A. Manley [HB2382 Detail]

Download: Illinois-2025-HB2382-Introduced.html

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104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB2382 Introduced , by Rep. Natalie A. Manley SYNOPSIS AS INTRODUCED:
35 ILCS 200/10-30
Amends the Property Tax Code. In provisions concerning platted and subdivided but undeveloped property, provides that (i) beginning with the 2025 taxable year, no property's assessed value shall be reduced to less than $150 under those provisions and (ii) beginning with the 2035 taxable year, no property shall be eligible for calculation of its assessed value under those provisions for more than a 10-year period.
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A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Property Tax Code is amended by changing
Section 10-30 as follows:
(35 ILCS 200/10-30)
Sec. 10-30. Subdivisions; counties of less than 3,000,000.
(a) In counties with less than 3,000,000 inhabitants, the
platting and subdivision of property into separate lots and
the development of the subdivided property with streets,
sidewalks, curbs, gutters, sewer, water and utility lines
shall not increase the assessed valuation of all or any part of
the property, if:
(1) The property is platted and subdivided in
accordance with the Plat Act;
(2) The platting occurs after January 1, 1978;
(3) At the time of platting the property is in excess
of 5 acres; and
(4) At the time of platting the property is vacant or
used as a farm as defined in Section 1-60.
(b) Except as provided in subsections subsection (c),
(c-5), and (c-10) of this Section, the assessed valuation of
property so platted and subdivided shall be determined each

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year based on the estimated price the property would bring at a
fair voluntary sale for use by the buyer for the same purposes
for which the property was used when last assessed prior to its
platting.
(c) Upon completion of a habitable structure on any lot of
subdivided property, or upon the use of any lot, either alone
or in conjunction with any contiguous property, for any
business, commercial or residential purpose, or upon the
initial sale of any platted lot, including a platted lot which
is vacant: (i) the provisions of subsection (b) of this
Section shall no longer apply in determining the assessed
valuation of the lot, (ii) each lot shall be assessed without
regard to any provision of this Section, and (iii) the
assessed valuation of the remaining property, when next
determined, shall be reduced proportionately to reflect the
exclusion of the property that no longer qualifies for
valuation under this Section. Holding or offering a platted
lot for initial sale shall not constitute a use of the lot for
business, commercial or residential purposes unless a
habitable structure is situated on the lot or unless the lot is
otherwise used for a business, commercial or residential
purpose.
(c-5) Beginning with the 2025 taxable year, no property's
assessed value shall be reduced to less than $150 under this
Section.
(c-10) Beginning with the 2035 taxable year, no property

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