The FY-14 RT allocations are estimated at $1,422 million. This is an increase of 8.7% or $113.8 million from FY-13 allocations that totaled $1,308 million.
Click here for a detailed listing of the approximately 6,500 local taxing districts which are entitled to receive an allocation for Fiscal Year 2014 (July 1, 2013 through June 30, 2014). The list contains the following information:
This information may be considered certified by the Director of the Illinois Department of Revenue solely for purposes of allowing local taxing districts to issue tax anticipation notes, in accordance with 50 ILCS 420, Tax Anticipation Note Act.
These numbers represent an estimate based on the best available economic data. The actual amount a local government will receive may vary. Please note that the Illinois Department of Revenue and its staff shall in no way be liable for error or miscalculation in certification of these numbers.
* "Entitlement" - the amount of the Replacement Tax paid or to be paid in any given full year to a unit of government.
** "Replacement Taxes" - the tax or taxes, as by law now or hereafter enacted or amended, imposed by the General Assembly to replace revenue lost by units of government as a result of the abolition of ad valorem personal property taxes pursuant to Article IX, Section 5(c) of the Constitution of the State of Illinois.