Illinois General Assembly Approves Refund Recapture Levy for Certain Property Tax Refunds
By EsqSocial Corporation 01/06/21
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 an amount equal to the refunds from assessment reductions granted in the prior 12-month period. ...
By: Franczek P.C.