The amount for which a property can be sold in the due course of business and trade, not under duress, between a willing buyer and a willing seller.
35 ILCS 200/1-50
Fair cash value
Known as the Property Tax Code
The act spans §§ 35-200-1-1 to 35-200-1-95 (38 sections).
P.A. 88-455.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.