Section Newsletter Articles on Property Taxes
The impact of Public Act 94-976 for tax-capped governments
Local Government Law
, April 2007
Effective June 30, 2006, and particularly for all elections following March 21, 2006, Public Act 94-976 (Senate Bill 1682) makes major changes to the Property Tax Extension Limitation Law (“tax caps”) both in reference to the types of property tax referenda which may be conducted and the interrelationship between the “limiting rate” of tax caps and various statutory fund rate limits.