GA96HB4449 96 HB 4449 PROP TAX-ASSESSMENTS Amends the Property Tax Code. Provides that township assessors and county assessors must monitor the average fair-market value of residential property within their jurisdiction. Provides that, if the average fair-market value of residential property within the jurisdiction of the assessor falls by more than 7% in any taxable year, the assessor shall notify the Illinois Department of Revenue. Provides that, whenever the Department of Revenue is notified by a county or township assessor that the average fair-market value of residential property within the jurisdiction of a township or county assessor has fallen by more than 7%, it shall immediately impose an additional special multiplier in the geographic area specified by the assessor so that the equalized assessed value of all property in the geographic area reflects the decline in fair-market value. http://www.ilga.gov/legislation/BillStatus.asp?DocNum=4449&GAID=10&DocTypeID=HB&LegId=47875&SessionID=76&GA=96 2010-01-27 00:00:00 House Assigned to Revenue & Finance Committee 0 3 HREF 2009-05-06 00:00:00 House Referred to Rules Committee 0 2 HRUL 2009-05-06 00:00:00 House Filed with the Clerk by Rep. Jack D. Franks 0 0 2009-05-06 00:00:00 House First Reading 1 1 2010-03-15 00:00:00 House Rule 19(a) / Re-referred to Rules Committee 1 4 HRUL JackDFranks House Chief Sponsor