(35 ILCS 200/16-15)
Sec. 16-15.
Adjustments to prior year's assessments.
Each county clerk
shall compile final adjustments made during the preceding calendar year by the
State Property Tax Appeal Board to the aggregate assessed value of a school
district for which such adjustments are greater than $250,000 or 2% of the
aggregate assessed value of a school district, whichever is less, and report
that information to the Department. By July 1 annually, the Department shall
transmit the adjusted assessments reported since the prior July 1 to the
Illinois State Board of Education for purposes of calculating the amount of
State aid to be apportioned to the various school districts under the School
Code.
(Source: P.A. 86-237; 88-455.)
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