PROPERTY TAX-SITE VALUE

Amends the Property Tax Code. Creates the Site Value Tax Law within the Property Tax Code. Provides that a municipality and any taxing district located in whole or in part within that municipality may levy a site value tax upon the assessed value of land within the municipality. Provides that "assessed value" means 33 1/3% of the fair cash value of the land, without regard to buildings, structures, improvements, or other permanent fixtures on the land, except for the value of oil, gas, coal, and other minerals in the land and the right to remove such oil, gas, coal, and other minerals from the land. Contains provisions concerning enforcement and collection. Effective immediately.