ILCS » Chapter 35 · Act 200
Illinois Compiled Statutes

35 ILCS 200/9-145 (2026)

Statutory level of assessment

✓ current as of May 2026
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(35 ILCS 200/9-145)
    Sec. 9-145. Statutory level of assessment. Except in counties with more than 200,000 inhabitants which classify property for purposes of taxation, property shall be valued as follows:
        (a) Each tract or lot of property shall be valued at
    
33 1/3% of its fair cash value.
        (b) Each taxable leasehold estate shall be valued at
    
33 1/3% of its fair cash value.
        (c) Each building or structure which is located on
    
the right of way of any canal, railroad or other company leased or granted to another company or person for a term of years, shall be valued at 33 1/3% of its fair cash value.
        (d) Any property on which there is a coal or other
    
mine, or stone or other quarry, shall be valued at 33 1/3% of its fair cash value. Oil, gas and other minerals, except coal, shall have value and be assessed separately at 33 1/3% of the fair cash value of such oil, gas and other minerals. Coal shall be assessed separately at 33 1/3% of the coal reserve economic value, as provided in Sections 10-170 through 10-200.
        (e) In the assessment of property encumbered by
    
public easement, any depreciation occasioned by such easement shall be deducted in the valuation of such property. Any property dedicated as a nature preserve or as a nature preserve buffer under the Illinois Natural Areas Preservation Act, for the purposes of this paragraph, is encumbered by a public easement and shall be depreciated for assessment purposes to a level at which its valuation shall be $1 per acre or portion thereof.
    This Section is subject to and modified by Sections 10-110 through 10-140 and 11-5 through 11-65.
(Source: P.A. 91-497, eff. 1-1-00.)

    
Notes of Decisions
Cited in 8 cases, 1999–2013 · leading case: Roxana Cmty. Unit Sch. Dist. No. 1 v. Env't Prot. Agency, 2013 IL App (4th) 120825 (Ill. App. Ct. 2013).
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Roxana Cmty. Unit Sch. Dist. No. 1 v. Env't Prot. Agency, 2013 IL App (4th) 120825 (Ill. App. Ct. 2013). “Compare 35 ILCS 200/11-5 (West 2010) (pertaining to valuation of pollution control facilities), with 35 ILCS 200/9-145 (West 2010) (pertaining to general valuation procedures).”
Roxana Cmty. Unit Sch. Dist. No. 1 v. WRB Refining, 2012 IL App (4th) 120331 (Ill. App. Ct. 2012). “Compare 35 ILCS 200/11-5 (West 2010) (pertaining to valuation of pollution control facilities), with 35 ILCS 200/9-145 (West 2010) (pertaining to general valuation procedures).”
Kankakee Cnty. Bd. of Review v. State of Illinois Prop. Tax Appeal Bd. (Ill. App. Ct. 2003). “" 35 ILCS 200/9-145 (West 2000). The term "fair cash value" is defined as what a willing buyer will pay a willing seller in an arm's length transaction.”
Pawnee Oil & Gas, Inc. v. Cnty. of Wayne (Ill. App. Ct. 2001). “Using the production figures from the previous year, the county then applies a formula intended to estimate the amount of oil remaining in the ground the second year in order to prepare a property tax assessment the third year.”
Peacock v. Illinois Prop. Tax Appeal Bd. (Ill. App. Ct. 2003). “35 ILCS 200/9-145 (West 2000).) Georgene Zimmerman testified that she had been the Adams County supervisor of assessments since 1990 and the deputy supervisor of assessments for many years before that.”
Consumers IL Water Co. v. Vermilion Cnty. Bd. of Review (Ill. App. Ct. 2006). “Additionally, county assessment officials generally value property and its improvements separately since they must list the assessed value of the property in one column, the assessed value of improvements in another, and the total valuation in a separate column.”
Chicagoland Chamber of Com. v. Pappas (Ill. App. Ct. 2007). “35 ILCS 200/9-145 (West 2004). In July 2004, section 15-176 was added to the Code and a new exemption structure effecting the equalized assessed value of homestead properties went into effect.”
Metro. Airport Auth. v. Prop. Tax Appeal Bd. (Ill. App. Ct. 1999). “35 ILCS 200/9-145(b)(1996). Fair market value is synonymous with "fair cash value," Walsh v.”
— 35 ILCS 200/9-145(a) — 1 case
Consumers IL Water Co. v. Vermilion Cnty. Bd. of Review (Ill. App. Ct. 2006). “Additionally, county assessment officials generally value property and its improvements separately since they must list the assessed value of the property in one column, the assessed value of improvements in another, and the total valuation in a separate column.”
— 35 ILCS 200/9-145(b)(1996) — 1 case
Metro. Airport Auth. v. Prop. Tax Appeal Bd. (Ill. App. Ct. 1999). “35 ILCS 200/9-145(b)(1996). Fair market value is synonymous with "fair cash value," Walsh v.”
— 35 ILCS 200/9-145(d) — 1 case
Pawnee Oil & Gas, Inc. v. Cnty. of Wayne (Ill. App. Ct. 2001). “Using the production figures from the previous year, the county then applies a formula intended to estimate the amount of oil remaining in the ground the second year in order to prepare a property tax assessment the third year.”
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