{"data":{"id":"us-il/35-ilcs-200-10-70","jurisdiction":"us-il","citation":"35 ILCS 200/10-70","heading":"Computation of valuation.","body":"(a) Upon receipt of the certificate of rehabilitation, the assessment officer shall determine the base year valuation and shall make a notation on each statement of assessment during the 8-year valuation period and the adjustment valuation period that the valuation of the historic building shall be based upon the issuance of a certificate of rehabilitation.\n(b) Upon revocation of a certificate of rehabilitation, the assessment officer shall compute the assessed valuation of the building on the basis of the then current fair cash value.\n(c) An historic building receiving a certificate of rehabilitation shall not be eligible for the homestead improvement exemption during the 8-year valuation period and adjustment valuation period.","path":["CHAPTER 35 REVENUE","Property Tax Code."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=596\u0026ChapterID=8\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:20Z","sha256":"8ac288c8f714e3e3097ff2a46cf0080ef11952e6ec6e3c35d77a5d27ed39af94","source_id":"us-il","stale":false,"prev":"us-il/35-ilcs-200-10-65","next":"us-il/35-ilcs-200-10-75"},"notice":"GroundRules: Original legal text. Not legal advice."}