To determine the fair cash value of any certified pollution control facility, the Department shall determine the probable net value that could be realized by its owner if the facility were removed and sold at a fair, voluntary sale, giving due account to the expense of removal and condition of the particular facility in question. The assessed value of the facility shall be 33/1/3% of the fair cash value of the facility.
35 ILCS 200/11-15
Method of valuation for pollution control facilities
P.A. 103-592, eff. 6-7-24.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.