(60 ILCS 1/235-10)
Sec. 235-10. Rate of tax; referendum to increase maximum rate.
(a) In townships having an equalized assessed valuation of $36,000,000 or
more, taxes authorized by subsection (a) may be extended at a rate not
exceeding 0.25% of value, as equalized or assessed by the Department of
Revenue, of all taxable property in the township.
(b) In townships having an equalized assessed valuation of $30,000,000 but
less than $36,000,000, taxes authorized by subsection (a) may be extended at a
rate calculated to yield tax revenues not exceeding $90,000.
(c) In townships having an equalized assessed valuation of $15,000,000 but
less than $30,000,000, taxes authorized by subsection (a) may be extended at
a rate not exceeding the rate computed by subtracting 0.01% of value for
each $1,000,000 or major fraction thereof in excess of $15,000,000 but less
than $30,000,000 of equalized assessed valuation from the rate of 0.45% of
value.
(d) In townships having an equalized assessed valuation of less than
$15,000,000, taxes may be extended at a rate not exceeding 0.45% of value,
as equalized or assessed by the Department of Revenue, of all taxable property
in the township.
(e)(1) In townships having an equalized assessed valuation of less than
$10,000,000, taxes may be extended at a rate of not more than 0.45% of value,
or not more than 0.65% of value if approved by voters in the township in a
referendum on the limit increase, as equalized or assessed by the
Department of Revenue, of all taxable property in the township.
(2) On the petition of at least 10% of the registered voters residing in
the township to the township clerk, the clerk shall order a referendum on the
proposition to increase the extension limitation as provided in the petition.
The township clerk shall certify the proposition to the proper election
officials, who shall submit the proposition to the township voters at the
next election in accordance with the general election law. The proposition
shall be in substantially the following form:
Shall the present maximum tax extension limit of |
The votes shall be recorded as "Yes" or "No".
(3) If a majority of all ballots cast on the proposition is in favor
of the increase, the county clerk shall certify the results of the election to
the township clerk.
(f) Any township having exceeded an equalized assessed valuation of
$15,000,000 before September 17, 1983, may tax at the rate authorized to be
extended under this Section if approved by the township voters at the annual
township meeting. If approval is not obtained, the tax may not be extended at a
rate of more than 0.25% of the value, as equalized and assessed by the
Department of Revenue, of all taxable property in the township.
(g) Any township having assumed the rights, powers, duties, assets, property, liabilities, obligations, and
responsibilities of a road district abolished under the provisions of Section 6-133 of the Illinois Highway Code may tax at a rate determined by adding the rate authorized to be extended under this Section to the last rate authorized to be extended for road purposes under Section 6-501 of the Illinois Highway Code.
(Source: P.A. 97-611, eff. 1-1-12.)
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