PROP TAX-PTAB-VALUATION APPEAL

Amends the Property Tax Code with respect to the Property Tax Appeal Board. In counties with 3,000,000 or more inhabitants, for assessment year 2003 and thereafter, for valuation appeals concerning commercial or industrial property requesting a change in assessed value of $100,000 or more, requires the taxpayer to submit copies of all valuation reports within the party's possession or control concerning the property and performed within the 3 years prior to the tax year as well as certain documentation surrounding any sale of the subject property. Makes other changes concerning these appeals with respect to notice of hearing to parties by the Property Tax Appeal Board, disclosure of information, and opinion testimony. Establishes burdens of proof to rebut the presumed correctness of a board of review decision in matters of market value and uniformity. Effective immediately.