This calendar is based upon the most current information,
court decisions and legislation of which the League has:
knowledge us of the date of this publication. It supercedes similar
information contained in all other league publications.

The tax levy ordinance must be passed and a certified copy thereof filed with the county clerk on or before the last Tuesday in December. (65 ILCS 5/8-3-1).

The Truth in Taxation Act provides that at least 20 days before any taxing body makes its tax levy it must determine how many dollars in aggregate property tax extensions will be necessary. If the amount determined is more than 105% of the previous year's extensions, an additional notice published in the newspaper and a public hearing are required before the levy can be adopted. The notice must state the amount of the previous year's aggregate property tax extensions, the amount of the current year's property tax levy, the percentage increase and the date, place and time of the public hearing.

The notice must be no less than one-eighth page in size, and the smallest type used must be twelve point and must be enclosed in a black border no less than 1/4 inch wide. It cannot be published in the legal notices or classified section of the newspaper. The public hearing must be held between 7 and 14 days after the notice is published in the newspaper, (35 ILCS 200/18-70,18-75, 18-80) (P.A. 88-455, effective January 1, 1994).

Page 23 / Illinois Municipal Review / October 1994