IL HB4818

Amends Section 18-210 of the Property Tax Code regarding establishing new property tax levies.

Allows municipalities that have not extended property taxes for any purpose during a continuous 5-year period immediately before the initial levy year to establish an initial levy without a referendum.

Initial levy under this exemption is capped at an aggregate rate of 0.25% and must comply with the Truth in Taxation Law.

All other new levies continue to require voter approval through referendum as established under existing law.

Effective January 1, 2019.