PROP TX-PTAB

Amends the Property Tax Code. Provides that, in counties with 3,000,000 or more inhabitants, beginning with assessments made for the 1997 assessment year and ending with assessments made for the 2002 assessment year, in addition to the appeals for residential property of 6 units or less, the Property Tax Appeal Board shall hear appeals for all other property (now, there is no end date for when PTAB will hear appeals for property other than residential property of 6 units or less). Includes in the definition of "new property" any additional assessed value, after final board of review action, resulting from a scheduled increase in the level of assessment for property classified as Classes 6 through 9 in the Cook County Real Property Assessment Classification Ordinance multiplied by the equalization factor issued by the Department of Revenue. Provides that, in counties with 3,000,000 or more inhabitants, upon the filing of a tax objection complaint which would reduce the assessed valuation of any property by more than $100,000, the plaintiff must give notice of the tax objection complaint to certain taxing districts. Requires the plaintiff to attach to the complaint a certification that notice to the taxing districts has been made. Provides that a court does not have jurisdiction to hear the complaint if proper certification of notice is not filed. Provides that, upon receipt of notice of the filing of a tax objection complaint, the taxing district has the unconditional right to intervene in the proceedings. Effective immediately.