Bill Status of HB4818 100th General Assembly
Short Description: PROP TX-INITIAL LEVY
Rep. Al Riley and Steven Reick
|Session Sine Die
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that a municipality that has not extended property taxes for any purpose for a continuous 5-year period immediately preceding the tax year of the initial levy may establish an initial levy without resort to referendum, but not to exceed an aggregate rate of 0.25% and further subject to the Truth in Taxation Law. Effective immediately.