us-il/statute/320/30/2

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us-il/statute/320/30/2 · Axiom

320 ILCS 30/2

(320 ILCS 30/2)

(from Ch. 67 1/2, par. 452) Sec. 2. Definitions. As used in this Act:

(a)"Qualified Taxpayer" means an individual (i) who will…#

(a) "Qualified Taxpayer" means an individual (i) who will be 65 years of age or older by June 1 of the year for which a tax deferral is claimed; (ii) who certifies that they have owned and occupied as their residence such property or other qualifying property in the State for at least the last 3 years, except for any periods during which the taxpayer may have temporarily resided in a nursing or sheltered care home; and (iii) whose household income for the year is no greater than the maximum household income.

(b)"Tax deferred property" means the property upon which…#

(b) "Tax deferred property" means the property upon which real estate taxes are deferred under this Act.

(c)"Homestead" means the land and buildings thereon,…#

(c) "Homestead" means the land and buildings thereon, including a condominium or a dwelling unit in a multidwelling building that is owned and operated as a cooperative, occupied by the taxpayer as his residence or which are temporarily unoccupied by the taxpayer because such taxpayer is temporarily residing, for not more than 1 year, in a licensed facility as defined in Section 1-113 of the Nursing Home Care Act.

(d)"Real estate taxes" or "taxes" means the taxes on real…#

(d) "Real estate taxes" or "taxes" means the taxes on real property for which the taxpayer would be liable under the Property Tax Code, including special service area taxes, and special assessments on benefited real property for which the taxpayer would be liable to a unit of local government.

(e)"Department" means the Department of Revenue.#

(e) "Department" means the Department of Revenue.

(f)"Qualifying property" means a homestead which (a) the…#

(f) "Qualifying property" means a homestead which (a) the taxpayer or the taxpayer and his spouse own in fee simple or are purchasing in fee simple under a recorded instrument of sale, (b) is not income-producing property, (c) is not subject to a lien for unpaid real estate taxes when a claim under this Act is filed, and (d) is not held in trust, other than an Illinois land trust with the taxpayer identified as the sole beneficiary, if the taxpayer is filing for the program for the first time effective as of the January 1, 2011 assessment year or tax year 2012 and thereafter.

(g)"Equity interest" means the current assessed valuation…#

(g) "Equity interest" means the current assessed valuation of the qualified property times the fraction necessary to convert that figure to full market value minus any outstanding debts or liens on that property. In the case of qualifying property not having a separate assessed valuation, the appraised value as determined by a qualified real estate appraiser shall be used instead of the current assessed valuation.

(h)"Household income" has the meaning ascribed to that…#

(h) "Household income" has the meaning ascribed to that term in the Senior Citizens and Persons with Disabilities Property Tax Relief Act.

(i)"Collector" means the county collector or, if the taxes…#

(i) "Collector" means the county collector or, if the taxes to be deferred are special assessments, an official designated by a unit of local government to collect special assessments.

(j)"Maximum household income" means:#

(j) "Maximum household income" means:

(1) $40,000 through tax year 2005;

(2) $50,000 for tax years 2006 through 2011;

(3) $55,000 for tax years 2012 through 2021;

(4) $65,000 for tax years 2022 through 2024;

(5) $75,000 for tax year 2025;

(6) $77,000 for tax year 2026; and

(7) $79,000 for tax years 2027 and thereafter.

(Source: P.A. 104-452, eff. 12-12-25.)

in view

Whole section

Encodings · 5

maximum_household_incomeIL 320 § 30 (2) · parameter

30(j)

name: maximum_household_income
kind: parameter
dtype: Money
period: Year
unit: USD
source: 30(j)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-il/statute/320/30/2
          excerpt: $40,000 through tax year 2005
      - path: versions[1].formula
        kind: amount
        source:
          corpus_citation_path: us-il/statute/320/30/2
          excerpt: $50,000 for tax years 2006 through 2011
      - path: versions[2].formula
        kind: amount
        source:
          corpus_citation_path: us-il/statute/320/30/2
          excerpt: $55,000 for tax years 2012 through 2021
      - path: versions[3].formula
        kind: amount
        source:
          corpus_citation_path: us-il/statute/320/30/2
          excerpt: $65,000 for tax years 2022 through 2024
      - path: versions[4].formula
        kind: amount
        source:
          corpus_citation_path: us-il/statute/320/30/2
          excerpt: $75,000 for tax year 2025
      - path: versions[5].formula
        kind: amount
        source:
          corpus_citation_path: us-il/statute/320/30/2
          excerpt: $77,000 for tax year 2026
      - path: versions[6].formula
        kind: amount
        source:
          corpus_citation_path: us-il/statute/320/30/2
          excerpt: $79,000 for tax years 2027 and thereafter
versions:
  - effective_from: '0001-01-01'
    formula: '40000'
  - effective_from: '2006-01-01'
    formula: '50000'
  - effective_from: '2012-01-01'
    formula: '55000'
  - effective_from: '2022-01-01'
    formula: '65000'
  - effective_from: '2025-01-01'
    formula: '75000'
  - effective_from: '2026-01-01'
    formula: '77000'
  - effective_from: '2027-01-01'
    formula: '79000'

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household_income_no_greater_than_maximumIL 320 § 30 (2) · derived

30(j)

name: household_income_no_greater_than_maximum
kind: derived
entity: Household
dtype: Judgment
period: Year
source: 30(j)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-il/statute/320/30/2
          excerpt: '"Maximum household income" means'
versions:
  - effective_from: '0001-01-01'
    formula: household_income <= maximum_household_income

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homesteadIL 320 § 30 (2) · derived

30(c)

name: homestead
kind: derived
entity: Asset
dtype: Judgment
period: Year
source: 30(c)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: definition
        source:
          corpus_citation_path: us-il/statute/320/30/2
versions:
  - effective_from: '0001-01-01'
    formula: >-
      property_is_land_and_buildings_or_covered_dwelling_unit

      and (taxpayer_occupies_property_as_residence or
      taxpayer_temporarily_unoccupied_property_because_residing_not_more_than_one_year_in_licensed_nursing_home_care_act_facility)

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qualifying_propertyIL 320 § 30 (2) · derived

30(f)

name: qualifying_property
kind: derived
entity: Asset
dtype: Judgment
period: Year
source: 30(f)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: definition
        source:
          corpus_citation_path: us-il/statute/320/30/2
versions:
  - effective_from: '0001-01-01'
    formula: >-
      homestead

      and
      taxpayer_or_taxpayer_and_spouse_own_or_are_purchasing_property_in_fee_simple_under_recorded_instrument

      and not property_is_income_producing

      and not property_subject_to_unpaid_real_estate_tax_lien_when_claim_filed

      and property_not_disqualified_by_trust_rule

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qualified_taxpayerIL 320 § 30 (2) · derived

30(a)

name: qualified_taxpayer
kind: derived
entity: Person
dtype: Judgment
period: Year
source: 30(a)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: definition
        source:
          corpus_citation_path: us-il/statute/320/30/2
versions:
  - effective_from: '0001-01-01'
    formula: >-
      taxpayer_will_be_65_or_older_by_june_1_of_tax_deferral_year

      and
      taxpayer_certifies_owned_and_occupied_property_or_other_qualifying_property_in_state_for_at_least_last_3_years_except_temporary_nursing_or_sheltered_care_home_residence

      and household_income_no_greater_than_maximum

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▸rulespec code

Shown source

statutes/320/30/2.yaml

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View on GitHub

Rules

maximum_household_income

Parameter

source: 30(j)

- name: maximum_household_income
  kind: parameter
  dtype: Money
  period: Year
  unit: USD
  source: 30(j)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-il/statute/320/30/2
            excerpt: $40,000 through tax year 2005
        - path: versions[1].formula
          kind: amount
          source:
            corpus_citation_path: us-il/statute/320/30/2
            excerpt: $50,000 for tax years 2006 through 2011
        - path: versions[2].formula
          kind: amount
          source:
            corpus_citation_path: us-il/statute/320/30/2
            excerpt: $55,000 for tax years 2012 through 2021
        - path: versions[3].formula
          kind: amount
          source:
            corpus_citation_path: us-il/statute/320/30/2
            excerpt: $65,000 for tax years 2022 through 2024
        - path: versions[4].formula
          kind: amount
          source:
            corpus_citation_path: us-il/statute/320/30/2
            excerpt: $75,000 for tax year 2025
        - path: versions[5].formula
          kind: amount
          source:
            corpus_citation_path: us-il/statute/320/30/2
            excerpt: $77,000 for tax year 2026
        - path: versions[6].formula
          kind: amount
          source:
            corpus_citation_path: us-il/statute/320/30/2
            excerpt: $79,000 for tax years 2027 and thereafter
  versions:
    - effective_from: '0001-01-01'
      formula: '40000'
    - effective_from: '2006-01-01'
      formula: '50000'
    - effective_from: '2012-01-01'
      formula: '55000'
    - effective_from: '2022-01-01'
      formula: '65000'
    - effective_from: '2025-01-01'
      formula: '75000'
    - effective_from: '2026-01-01'
      formula: '77000'
    - effective_from: '2027-01-01'
      formula: '79000'

household_income_no_greater_than_maximum

Derived

source: 30(j)

- name: household_income_no_greater_than_maximum
  kind: derived
  entity: Household
  dtype: Judgment
  period: Year
  source: 30(j)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-il/statute/320/30/2
            excerpt: '"Maximum household income" means'
  versions:
    - effective_from: '0001-01-01'
      formula: household_income <= maximum_household_income

homestead

Derived

source: 30(c)

- name: homestead
  kind: derived
  entity: Asset
  dtype: Judgment
  period: Year
  source: 30(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us-il/statute/320/30/2
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        property_is_land_and_buildings_or_covered_dwelling_unit

        and (taxpayer_occupies_property_as_residence or
        taxpayer_temporarily_unoccupied_property_because_residing_not_more_than_one_year_in_licensed_nursing_home_care_act_facility)

qualifying_property

Derived

source: 30(f)

- name: qualifying_property
  kind: derived
  entity: Asset
  dtype: Judgment
  period: Year
  source: 30(f)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us-il/statute/320/30/2
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        homestead

        and
        taxpayer_or_taxpayer_and_spouse_own_or_are_purchasing_property_in_fee_simple_under_recorded_instrument

        and not property_is_income_producing

        and not property_subject_to_unpaid_real_estate_tax_lien_when_claim_filed

        and property_not_disqualified_by_trust_rule

qualified_taxpayer

Derived

source: 30(a)

- name: qualified_taxpayer
  kind: derived
  entity: Person
  dtype: Judgment
  period: Year
  source: 30(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us-il/statute/320/30/2
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        taxpayer_will_be_65_or_older_by_june_1_of_tax_deferral_year

        and
        taxpayer_certifies_owned_and_occupied_property_or_other_qualifying_property_in_state_for_at_least_last_3_years_except_temporary_nursing_or_sheltered_care_home_residence

        and household_income_no_greater_than_maximum