Property Tax Cap Law

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State

Illinois

Year

2020

Limit Type

Rate Limit

Limit Name

Property Tax Cap Law

Limit Description

The maximum rate allowed by law depends on the type of government unit and the type of fund within each unit.

Override Process

Many of the fund levy limits provide for local referendum to raise the rate limits. The referendum shall state the purpose or reason for the proposed change in the tax rate, an estimate of the approximate amount of levy or extension under the proposed rate and under the current rate. The notice shall include the approximate amount of the tax levy against a single family residence having a fair market value of $100,000 at the current maximum rate and at the proposed rate. The new rate shall be adopted if a majority of all ballots cast on the proposition are in favor of the proposition.

Record ID

IL001_LM20

Footnotes

Most tax rates are limited to less than 10 mills. Whenever any taxing district establishes a maximum tax rate lower than that otherwise applicable, it shall publish the ordinance or resolution in one or more newspapers in the district within 10 days after the maximum tax rate is established. The ordinance or resolution shall include a notice of (a) the specific number of voters required to sign a petition requesting that the question of the adoption of the maximum tax rate limit be submitted to the voters of the district; (b) the time within which the petition must be filed; and (c) the date of the prospective referendum. The district clerk or secretary shall provide a petition form to any individual requesting one. Any county which has a chief executive officer elected by the electors of the county and any municipality with a population of more than 25,000 is a home rule unit unless it elects by referendum not be home rule.

Sources

35 Ill. Comp. Stat. § 200/18-120;
35 Ill. Comp. Stat. § 200/18-125;
35 Ill. Comp. Stat. § 200/18-190(a)(4) (in effect for 2020)

Illinois Const., Art. VII, § 6;
Illinois Const., Art. VII, § 11, cl. b

Mullins, Daniel and Kimberly Cox.
1995.
Tax and Expenditures Limits on Local Governments, M-194, Washington, DC: Advisory Commission on Intergovernmental Relations.
View Archived Source

Illinois Department of Revenue, The Illinois Property Tax System
[http://www.revenue.state.il.us/Publications/LocalGovernment/PTAX1004.pdf Accessed 5/25/2017]
View Archived Source

Illinois Department of Revenue, Property Tax Fund Max Rate and Statute Reference (no date)
[http://www.revenue.state.il.us/localgovernment/propertytax/NewMaxRates.pdf Accessed 5/25/2017]
View Archived Source

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