The corporate authorities of a county to which this Act applies may use any county record or other information that predates the effective date of this Act by up to 5 years for the purpose of determining whether an increase in the market value of a longtime owner-occupant's principal residence is a consequence of the refurbishing or renovating of other residences or the construction of new residences in long-established residential areas or areas of deteriorated, vacant, or abandoned homes and properties.
35 ILCS 250/25
Retroactive application
Known as the Longtime Owner-Occupant Property Tax Relief Act
The act spans §§ 35-250-1 to 35-250-99 (8 sections).
P.A. 88-451.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.