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90_HB1295 35 ILCS 200/18-45 Amends the Property Tax Code. Removes the provision that required the EAV of all property for the computation of the amount to be extended within a county of 3,000,000 or more inhabitants to be the EAV of the property for the preceding levy year as established by the assessment and equalization process for the year immediately before the levy year. Effective immediately. LRB9003279DNmb LRB9003279DNmb 1 AN ACT to amend the Property Tax Code by changing Section 2 18-45. 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 18-45 as follows: 7 (35 ILCS 200/18-45) 8 Sec. 18-45. Computation of rates. Except as provided 9 below, each county clerk shall estimate and determine the 10 rate per cent upon the equalized assessed valuation for the 11 levy year of the property in the county's taxing districts 12 and special service areas, as established under Article VII 13 of the Illinois Constitution, so that the rate will produce, 14 within the proper divisions of that county, not less than the 15 net amount that will be required by the county board or 16 certified to the county clerk according to law. Prior to 17 extension, the county clerk shall determine the maximum 18 amount of tax authorized to be levied by any statute. If the 19 amount of any tax certified to the county clerk for extension 20 exceeds the maximum, the clerk shall extend only the maximum 21 allowable levy. 22 The county clerk shall exclude from the total equalized 23 assessed valuation, whenever estimating and determining it 24 under this Section and Sections 18-50 through 18-105, the 25 equalized assessed valuation in the percentage which has been 26 agreed to by each taxing district, of any property or portion 27 thereof within an Enterprise Zone upon which an abatement of 28 taxes was made under Section 18-170. However, if a 29 municipality has adopted tax increment financing under 30 Division 74.4 of Article 11 of the Illinois Municipal Code, 31 the county clerk shall estimate and determine rates in -2- LRB9003279DNmb 1 accordance with Sections 11-74.4-7 through 11-74.4-9 of that 2 Act.
The equalized assessed value of all property for the3 computation of the amount to be extended within a county with4 3,000,000 or more inhabitants shall be the equalized assessed5 value of such property for the year immediately preceding the6 levy year as established by the assessment and equalization7 process for the year immediately prior to the levy year.8 (Source: P.A. 86-233; 86-953; 86-957; 86-1475; 87-17; 87-477; 9 87-895; 88-455.) 10 Section 99. Effective date. This Act takes effect upon 11 becoming law.
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