IL SB3314

Amends the Property Tax Code to clarify calculation methods for tax referendum ballot information, specifically requiring use of the most recent final equalization factor certified by the Department of Revenue.

Modifies Section 18-190 to specify that supplemental ballot information for new tax rates and limiting rate increases must be calculated using the fair market value of property ($100,000), the statutory assessment percentage, the final equalization factor, and either the new rate or the limiting rate increase amount.

Modifies Section 18-205 to clarify the calculation of additional tax amounts for extension limitation increase referenda, including the aggregate extension base and the difference between the proposed percentage increase and the lesser of 5% or the Consumer Price Index increase.

Specifies that the amendments to both sections are intended to clarify existing requirements and shall not validate any prior non-compliant referendum language.

Non-deliberate errors, miscalculations, or inaccuracies in computing amounts shown on ballots or notices shall not invalidate propositions that are approved.