Public Act 90-0320 of the 90th General Assembly
Public Act 90-0320
SB715 Enrolled LRB9003243KDks
AN ACT to amend the Property Tax Code by changing Section
18-45.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Property Tax Code is amended by changing
Section 18-45 as follows:
(35 ILCS 200/18-45)
Sec. 18-45. Computation of rates. Except as provided
below, each county clerk shall estimate and determine the
rate per cent upon the equalized assessed valuation for the
levy year of the property in the county's taxing districts
and special service areas, as established under Article VII
of the Illinois Constitution, so that the rate will produce,
within the proper divisions of that county, not less than the
net amount that will be required by the county board or
certified to the county clerk according to law. Prior to
extension, the county clerk shall determine the maximum
amount of tax authorized to be levied by any statute. If the
amount of any tax certified to the county clerk for extension
exceeds the maximum, the clerk shall extend only the maximum
allowable levy.
The county clerk shall exclude from the total equalized
assessed valuation, whenever estimating and determining it
under this Section and Sections 18-50 through 18-105, the
equalized assessed valuation in the percentage which has been
agreed to by each taxing district, of any property or portion
thereof within an Enterprise Zone upon which an abatement of
taxes was made under Section 18-170. However, if a
municipality has adopted tax increment financing under
Division 74.4 of Article 11 of the Illinois Municipal Code,
the county clerk shall estimate and determine rates in
accordance with Sections 11-74.4-7 through 11-74.4-9 of that
Act. Beginning on January 1, 1998 and thereafter, the
equalized assessed value of all property for the computation
of the amount to be extended within a county with 3,000,000
or more inhabitants shall be the sum of (i) the equalized
assessed value of such property for the year immediately
preceding the levy year as established by the assessment and
equalization process for the year immediately prior to the
levy year, (ii) the equalized assessed value of any property
that qualifies as new property, as defined in Section 18-185,
or annexed property, as defined in Section 18-225, for the
current levy year, and (iii) any recovered tax increment
value, as defined in Section 18-185, for the current levy
year, less the equalized assessed value of any property that
qualifies as disconnected property, as defined in Section
18-225, for the current levy year.
(Source: P.A. 86-233; 86-953; 86-957; 86-1475; 87-17; 87-477;
87-895; 88-455.)