Illinois Property Tax Appeal Board Clarifies Its Position on “Rollover Statute”

October 18, 2023

The Illinois Property Tax Appeal Board (PTAB), a quasi-judicial body providing taxpayers and taxing districts an unbiased forum to contest a property's assessment, recently provided additional guidance to taxpayers by further defining the Illinois Property Tax Code’s Rollover Statute.

The Rollover Statute states that when the PTAB lowers the assessment of an owner-occupied residence, the lowered assessment shall remain in effect for the balance of the triennial or quadrennial reassessment cycle, absent a sale or significant change in the physical characteristics of the home.

On October 2, 2023, the PTAB defined the statute to mean that the word “shall” is mandatory and binding, and, as a result, while a further appeal to a county board of review resulting in additional relief in a subsequent year is valid, should a taxpayer file for even further relief at the PTAB after it had previously granted an initial reduction, the PTAB will act to restore the original relief it had granted, thereby voiding any further relief granted by a board of review.

This key clarification is important in helping taxpayers manage and mitigate risk as they are being placed at significant risk should a subsequent year reduction by a board of review result in a further appeal at PTAB.

GCT regularly appeals property taxes for clients who own or lease commercial, industrial, or large multi-family properties. Property tax work is done on a contingent basis, meaning we only get paid if we are successful in reducing your taxes. GCT offers free property tax reviews to all new clients.

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