Sec. 10-420. Special valuation of managed land; exceptions.
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Sec. 10-420. Special valuation of managed land; exceptions.
(a)In all counties, except for Cook County, beginning with assessments made in 2008 and thereafter, managed land for which an application has been approved under Section 10-415 that contains 5 or more contiguous acres is valued at 5% of its fair cash value.
(b)The special valuation under this Section does not apply to
(i)any land that has been assessed as farmland under Sections 10-110 through 10-145,
(ii)land valued under Section 10-152 or 10-153,
(iii)land valued as open space under Section 10-155,
(iv)land certified under Section 10-167, or
(v)any property dedicated as a nature preserve or a nature preserve buffer under the Illinois Natural Areas Preservation Act and assessed in accordance with subsection
(e)of Section 9-145.