ILCS » Chapter 35 · Act 200
Illinois Compiled Statutes

35 ILCS 200/10-70 (2026)

Computation of valuation

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(35 ILCS 200/10-70)
    Sec. 10-70. Computation of valuation.
    (a) Upon receipt of the certificate of rehabilitation, the assessment officer shall determine the base year valuation and shall make a notation on each statement of assessment during the 8-year valuation period and the adjustment valuation period that the valuation of the historic building shall be based upon the issuance of a certificate of rehabilitation.
    (b) Upon revocation of a certificate of rehabilitation, the assessment officer shall compute the assessed valuation of the building on the basis of the then current fair cash value.
    (c) An historic building receiving a certificate of rehabilitation shall not be eligible for the homestead improvement exemption during the 8-year valuation period and adjustment valuation period.
(Source: P.A. 86-1481; 88-455.)

    
Notes of Decisions
Cited in 2 cases, 2020–2020 · leading case: Jorgensen v. Berrios, 2020 IL App (1st) 191133, 174 N.E.3d 1026.
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Jorgensen v. Berrios, 2020 IL App (1st) 191133, 174 N.E.3d 1026. · cites it 2× “35 ILCS 200/10-70(a) (West 2014). Under the Freeze Law, the base year valuation “means the fair cash value of the historic building for the year in which the rehabilitation period begins but prior to the commencement of the rehabilitation and does not include any reduction in…”
Jorgensen v. Berrios, 2020 IL App (1st) 191133, 174 N.E.3d 1026. · cites it 2× “35 ILCS 200/10-70(a) (West 2014). Under the Freeze Law, the base year valuation “means the fair cash value of the historic building for the year in which the rehabilitation period begins but prior to the commencement of the rehabilitation and does not include any reduction in…”
35 ILCS 200/10-70(a): 2 cases
Jorgensen v. Berrios, 2020 IL App (1st) 191133, 174 N.E.3d 1026. “35 ILCS 200/10-70(a) (West 2014). Under the Freeze Law, the base year valuation “means the fair cash value of the historic building for the year in which the rehabilitation period begins but prior to the commencement of the rehabilitation and does not include any reduction in…”
Jorgensen v. Berrios, 2020 IL App (1st) 191133, 174 N.E.3d 1026. “35 ILCS 200/10-70(a) (West 2014). Under the Freeze Law, the base year valuation “means the fair cash value of the historic building for the year in which the rehabilitation period begins but prior to the commencement of the rehabilitation and does not include any reduction in…”
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