Sec. 10-130. Farmland valuation; counties of 3,000,000 or more.
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/il/chapter-35/act-200/10-130A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 10-130. Farmland valuation; counties of 3,000,000 or more. In counties with more than 3,000,000 inhabitants, the equalized assessed value per acre of farmland shall be the lesser of either 16% of the fair cash value of the farmland estimated at the price it would bring at a fair, voluntary sale for use by the buyer as a farm as defined in Section 1-60, or 90% of the 1983 average equalized assessed value per acre certified by the Department.