IL SB0347

Amends Section 18-140 of the Property Tax Code to allow tax rates to be calculated beyond 3 decimal points for more precise extensions.

Enables county clerks to calculate rates with greater precision to bring the extension as close as possible to the levy requested.

Maintains existing requirements that fractions of a mill be extended as the next higher mill and fractions of a cent be extended as one cent.

Applies to all tax extensions by county clerks based on valuations produced by the Department for the levy year.