Illinois Statutes Chapter 605. Roads and Bridges § 10/22. Exemption from taxation

§ 22. All property belonging to the Authority, and the toll highways, shall be exempt from taxation. However, such part of that property as has heretofore been or shall hereafter be leased by the Authority to a private individual, association or corporation for a use which is not exempted from taxation under Article 15 of the Property Tax Code  1 is subject to taxation as provided in Section 9-195 of the Property Tax Code,  2 regardless of any provision in such a lease to the contrary.