PROP TX-SUBDIVISION VALUE

Illinois General Assembly - Full Text of HB2382

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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB2382

Introduced 2/4/2025, by Rep. Natalie A. Manley

SYNOPSIS AS INTRODUCED:

35 ILCS 200/10-30

Amends the Property Tax Code. In provisions concerning platted and
subdivided but undeveloped property, provides that (i) beginning with the
2025 taxable year, no property's assessed value shall be reduced to less
than $150 under those provisions and (ii) beginning with the 2035 taxable
year, no property shall be eligible for calculation of its assessed value
under those provisions for more than a 10-year period.
LRB104 03068 HLH 13086 b

A BILL FOR

HB2382
LRB104 03068 HLH 13086 b
1

AN ACT concerning revenue.

2

Be it enacted by the People of the State of Illinois,
3
represented in the General Assembly:

4

Section 5.
The Property Tax Code is amended by changing
5
Section 10-30 as follows:

6

(35 ILCS 200/10-30)
7

Sec. 10-30.
Subdivisions; counties of less than 3,000,000.
8

(a) In counties with less than 3,000,000 inhabitants, the
9
platting and subdivision of property into separate lots and
10
the development of the subdivided property with streets,
11
sidewalks, curbs, gutters, sewer, water and utility lines
12
shall not increase the assessed valuation of all or any part of
13
the property, if:

14

(1) The property is platted and subdivided in
15

accordance with the Plat Act;

16

(2) The platting occurs after January 1, 1978;

17

(3) At the time of platting the property is in excess
18

of 5 acres; and

19

(4) At the time of platting the property is vacant or
20

used as a farm as defined in Section 1-60.
21

(b) Except as provided in
subsections

subsection
(c)
,
22
(c-5), and (c-10)
of this Section, the assessed valuation of
23
property so platted and subdivided shall be determined each

HB2382
- 2 -
LRB104 03068 HLH 13086 b
1
year based on the estimated price the property would bring at a
2
fair voluntary sale for use by the buyer for the same purposes
3
for which the property was used when last assessed prior to its
4
platting.
5

(c) Upon completion of a habitable structure on any lot of
6
subdivided property, or upon the use of any lot, either alone
7
or in conjunction with any contiguous property, for any
8
business, commercial or residential purpose, or upon the
9
initial sale of any platted lot, including a platted lot which
10
is vacant: (i) the provisions of subsection (b) of this
11
Section shall no longer apply in determining the assessed
12
valuation of the lot, (ii) each lot shall be assessed without
13
regard to any provision of this Section, and (iii) the
14
assessed valuation of the remaining property, when next
15
determined, shall be reduced proportionately to reflect the
16
exclusion of the property that no longer qualifies for
17
valuation under this Section. Holding or offering a platted
18
lot for initial sale shall not constitute a use of the lot for
19
business, commercial or residential purposes unless a
20
habitable structure is situated on the lot or unless the lot is
21
otherwise used for a business, commercial or residential
22
purpose.
23

(c-5) Beginning with the 2025 taxable year, no property's
24
assessed value shall be reduced to less than $150 under this
25
Section.

26

(c-10) Beginning with the 2035 taxable year, no property

HB2382
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LRB104 03068 HLH 13086 b
1
shall be eligible for calculation of its assessed value under
2
this Section for more than a 10-year period.

3

(d) This Section applies before the effective date of this
4
amendatory Act of the 96th General Assembly and then applies
5
again beginning January 1, 2012.
6
(Source: P.A. 95-135, eff. 1-1-08; 96-480, eff. 8-14-09.)

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