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IN SB0137
Bill
Status
Introduced
1/5/2011
Primary Sponsor
Lonnie Randolph
Click for details
AI Summary
- Phases out over two years the freeze on maximum property tax levies for civil taxing units in Lake County that has been in effect since 2008
- Currently, Lake County civil taxing units cannot increase their maximum property tax levies unless a 1% local option income tax for property tax relief is in effect
- For property taxes due in 2012, allows civil taxing units to increase levies by half of the assessed value growth quotient above 1.0, unless the 1% income tax is in place
- Eliminates the levy freeze restriction entirely for property taxes due in 2013 and thereafter
- Effective date of July 1, 2011
Legislative Description
Maximum property tax levies in Lake County.
Last Action
First reading: referred to Committee on Appropriations
1/5/2011
Full Bill Text
No bill text available