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90_HB1821
35 ILCS 200/18-230
Amends the Property Tax Extension Limitation Law in the
Property Tax Code to provide that if a new rate or rate
increase was approved by referendum, the taxing district may
increase its rate to that allowed by referendum and the
taxing district shall not be subject to the extension
limitation.
LRB9005034DNcc
LRB9005034DNcc
1 AN ACT to amend the Property Tax Code by changing Section
2 18-230.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Property Tax Code is amended by changing
6 Section 18-230 as follows:
7 (35 ILCS 200/18-230)
8 Sec. 18-230. Rate increase or decrease factor. When a
9 new rate or a rate increase or decrease first effective for
10 the current levy year has been approved by referendum, the
11 aggregate extension base, as adjusted in Sections 18-215 and
12 18-220, shall be multiplied by a rate increase (or decrease)
13 factor. The numerator of the rate increase (or decrease)
14 factor is the total combined rate for the funds that made up
15 the aggregate extension for the taxing district for the prior
16 year plus the rate increase approved or minus the rate
17 decrease approved. The denominator of the rate increase or
18 decrease factor is the total combined rate for the funds that
19 made up the aggregate extension for the prior year. For
20 those taxing districts for which a new rate or a rate
21 increase has been approved by referendum held after December
22 31, 1988, and that did not increase their rate to the new
23 maximum rate for that fund, those taxing districts shall, at
24 any time thereafter and without further referendum or
25 authority, be allowed to levy taxes at any rate that is
26 greater than that allowed before December 31, 1988, but equal
27 to or less than the maximum rate so allowed in the
28 referendum. Any such taxing district may vary the increased
29 rate from one year to another provided that the rate does not
30 exceed the maximum rate allowed by referendum. The amount of
31 any such increase in the rate over the rate existing before
-2- LRB9005034DNcc
1 the referendum levied in any particular levy year shall be
2 exempt from all calculations of the extension limitation and
3 limiting rate under this Law and shall not be considered as
4 part of the aggregate extension nor as a part of the
5 aggregate extension base the rate increase factor shall be
6 adjusted for 4 levy years after the year of the referendum by
7 a factor the numerator of which is the portion of the new or
8 increased rate for which taxes were not extended plus the
9 aggregate rate in effect for the levy year prior to the levy
10 year in which the referendum was passed and the denominator
11 of which is the aggregate rate in effect for the levy year
12 prior to the levy year in which the referendum was passed.
13 (Source: P.A. 87-17; 88-455.)