On Tuesday, the Illinois Department of Revenue released the final 2021 Cook County equalization factor. The factor (sometimes referred to as the multiplier) for 2021 is 3.0027. The tentative factor released in June was 2.7297 so the final factor represents […]
Category: Property Tax
Governor signs Bill Amending PTELL and School Code on Several School Finance Provisions
May 25, 2022
On Monday Governor Pritzker signed into law Public Act 102-0895 (Senate Bill 1975) creating Section 18-190.7 of the Property Tax Code, which modifies how certain school districts and other units of local government can approve a levy below the maximum […]
Franczek partner Scott Metcalf was invited by Crain’s Chicago Business to submit an editorial for its May 2, 2022, Property Tax Reform forum. The piece, which is available in the print edition and to subscribers online, addresses the differences in […]
Governor signs Refund Recapture Bill into Law
August 23, 2021
On Friday Governor Pritzker signed into law Public Act 102-0519 (Senate Bill 508) creating Section 18-233 of the Property Tax Code, which implements an automatic levy increase to be applied by county tax extension officials each year in the amount […]
Yesterday the Illinois Department of Revenue released the final 2020 Cook County equalization factor. The factor (sometimes referred to as the multiplier) for 2020 is 3.2234. The final factor in 2019 was 2.9160, which means the 2020 factor has increased […]
Illinois General Assembly Approves Refund Recapture Levy for Certain Property Tax Refunds
June 1, 2021
Yesterday the Illinois General Assembly passed Senate Bill 508 (SB 508). SB 508 creates a new Section 18-233 in the Property Tax Code amending the Property Tax Extension Limitation Law (PTELL) to allow taxing districts to increase their extensions in […]
Cook County to Activate 2011 to 2014 Tax Rate Objections and Send Notices to Taxing Agencies Electronically
April 13, 2021
In the next few weeks, Cook County school districts and other taxing agencies will be receiving notices from the State’s Attorney’s Office that the tax rate objection complaints for the 2011 to 2014 tax years are being activated. For the […]
Illinois Department of Revenue Releases Tentative 2020 Cook County Equalization Factor
February 18, 2021
The Illinois Department of Revenue recently released the tentative 2020 Cook County equalization factor, also known as the multiplier. The preliminary factor is 3.0861. The ten-year history of preliminary and final equalization factors is summarized below. Tax Year Tentative Multiplier […]