An improved fill valve has a pivot valve body that is pivotally suspended immediately below a float housing and is movable between two positions. In a first position, the pivot valve body blocks the flow of water from the float housing. In a second position, the pivot body allows the flow of water from the float housing. The pivot valve body has two top compartments, each separated from the other by a wall. The first compartment retains an amount of water in it. The second compartment functions as a water flow restriction apparatus and includes an upwardly-extending member for sealing off a check valve that is disposed within the bottom of the float housing. The fill valve also includes structural elements that allow the water to trickle into the float housing at a very slow rate. The fill valve can be re-set for normal toilet tank operation.