For purposes of computing the assessed valuation, qualifying wastewater facilities shall be valued at 33 1/3% of the fair cash value of the facility. To determine 33 1/3% of the fair cash value of a qualifying wastewater facility, the Department shall take into consideration the probable net value that could be realized by the owner if the facility were removed and sold at a fair, voluntary sale, giving due account to the expenses incurred for removal, site restoration, and transportation. The valuation under this Section applies only to the qualifying wastewater facility itself and not to the land on which the facility is located.
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