If property is annexed into the taxing district or is disconnected from a taxing district during the current levy year, the calculation of the limiting rate under Section 18-185 is not affected. The rates as limited under this Law are applied to all property in the district for the current levy year, excluding property that was annexed after the adoption of the levy for the current levy year.
35 ILCS 200/18-225
Annexed or disconnected property
Known as the Property Tax Extension Limitation Law
The act spans §§ 35-200-18-185 to 35-200-18-245 (24 sections).
P.A. 88-455; 89-1, eff. 2-12-95.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.