Reminder: Truth in Taxation Deadlines are Nearing
Nov 9, 2022
Illinois’ Truth in Taxation Law requires that taxing districts estimate the amounts of money needed from their tax levy at least 20 days prior to adopting their final annual levy. See 35 ILCS 200/18-55 et seq. Therefore, taxing districts adopting a resolution authorizing the final aggregate tax levy at their December 2022 board meetings should disclose the estimated amounts necessary to be levied at their November 2022 board meetings, assuming there will be at least 20 days between the meetings.
Taxing districts that expect to levy more than 105% of the prior tax year’s extensions are also required to publish notice and conduct a Truth in Taxation hearing.
If a Truth in Taxation hearing is required by statute, it may be held immediately before the adoption of the resolution authorizing the final aggregate tax levy (i.e., at the same meeting, just before adopting the levy). The notice of this hearing must be published between 7 and 14 days before the hearing to adopt the levy and should be printed in a newspaper of general circulation published in the district or published in the county and having circulation in the district. The notice may not appear in a part of the newspaper where legal notices and classified ads appear. The resolution authorizing the final aggregate tax levy should be approved by roll call vote, along with a “Certificate of Compliance” which must be filed with the County Clerk’s office by the last Tuesday of December (December 27, 2022).
Districts that do not anticipate levying more than 105% of the prior tax year’s annual extension are not required to publish any notice of or conduct a Truth in Taxation hearing but should execute a certification of inapplicability of the Truth in Taxation Law. Best practices would also have the taxing district pass a resolution memorializing compliance with the statute. Finally, the ”Certificate of Inapplicability” should be filed along with the levy with the County Clerk’s office by December 27th.
If your District has questions about this procedure or the required documentation, please contact your Robbins Schwartz attorney for further assistance.