. (insert legal name, number, if any, and county or counties of taxing district), Illinois, be established at . . . % of the equalized assessed value of the taxable property therein instead of . . . %, the maximum rate otherwise applicable to the next taxes to be extended?
The votes must be recorded as "Yes" or "No".
The ballot shall have printed thereon, but not as a part of the
proposition submitted, (i) a statement of the purpose or reason for the proposed change in the tax rate, (ii) an estimate of the approximate amount extendable
under the proposed rate and of the approximate amount extendable under
the current rate applicable to the next taxes extended, such amounts being
computed upon the last known equalized assessed value, and (iii) the approximate amount of the tax extendable
against property containing a single family residence and
having a fair market value of $100,000 at the current maximum
rate and at the proposed rate. The approximate amount of the tax extendable against property containing a single family residence shall be calculated (i) without regard to any property tax exemptions and (ii) based upon the percentage level of assessment prescribed for such property by statute or by ordinance of the county board in counties which classify property for purposes of taxation in accordance with Section 4 of Article IX of the Constitution. Any error,
miscalculation or inaccuracy in computing such amounts that is not deliberate
shall not invalidate or
affect the validity of any maximum tax rate so adopted.
If a majority of all ballots cast on the proposition are in favor of the
proposition, the maximum tax rate so established shall become effective with
the levy next following the referendum. It is the duty of the county clerk to
reduce, if necessary, the amount of any taxes levied thereafter. Nothing in
this Section shall be construed as precluding the extension of taxes at rates
less than that authorized by the referendum.
(Source: P.A. 94-976, eff. 6-30-06.)