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 […]
Category: Property Tax
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 […]
The Illinois Appellate Court recently upheld a decision of the Illinois Property Tax Appeal Board (PTAB) involving the assessed value of a farm property owned by Edward Sims Jr. Trust (Trust) in Edward Sims Jr. Trust v. Henry County Board of […]
Illinois Appellate Court Again Sides with School Districts on Working Cash Fund Bond Tax Rate Objections
January 13, 2021
After a very difficult 2020, Illinois school districts received a well-deserved present on December 24 when the First District Illinois Appellate Court issued a decision rejecting a tax rate objection and upholding the legality of a property tax levy for […]