7.1.4: CURRENT ASSESSMENT OF REAL ESTATE:
   A.   Upon issuance of a certificate of occupancy pursuant to the ordinances of the City, the building inspector shall file an executed certificate of occupancy with the McHenry County Supervisor of Assessments.
   B.   The City shall obtain from the McHenry assessments a receipt showing that the certificate of occupancy has been duly filed and that the property is subject to increased assessment from the date of issuance of the certificate on a proportionate basis for the year in which the improvement was completed. Duplicate of the receipt shall be forwarded to the owner of the property. (1986 Code)