Illinois State Law allows a qualified fraternal organization chartered by the State of Illinois prior to 1900 to elect to freeze the assessed value of the property it owns and uses.
To qualify, a fraternal organization must submit documentation which will consist of a copy of its charter; substantiate ownership of property; and provide proof of exempt status under Section 501(c)(10) of the Internal Revenue Code. The organization must also prohibit gambling and the use of alcohol on the property and have members who provide financial support for charitable works.
For property that qualifies in assessment year 2001, the assessed value is frozen at 15% of assessment year 2000 assessed value. For properties that qualify after assessment year 2001, the assessed value is frozen at 15% of the assessed value in the assessment year the property first qualifies.
In Rock Island County, the fraternal organization must apply to the Chief County Assessors Office by December 31st of the current year. The application form will be submitted to the Chief County Assessors Office who will make the determination of eligibility for the freeze and sufficiency of documentation submitted. The fraternal organization must annually submit an application to the Chief Assessors Office on or before December 31st of the assessment year.
It is important to note to the applicants that the assessment freeze only freezes the assessed value of their property. It does not freeze the amount of the property tax bill.