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FY 2009 Estimate for Replacement Taxes

In accordance with current statute, the Illinois Department of Revenue is required to provide an estimated entitlement* of the amount of Personal Property Replacement Taxes** for Fiscal Year 2009.

Personal Property Replacement Taxes to be allocated for FY 2009 is estimated to be $1,528 million.  This is a decline of 2.1% from FY08's allocations of $1,561 million.  Replacement tax allocations are estimated to be lower for several reasons, replacement income tax are expected to be flat, invested capital and telecommunication receipts are estimated to decline in FY09 (2% for invested capital and 6% for telecommunication) and the business income tax refund fund percentage is up by 12.9% from FY08 (from 15.5% in FY08 to 17.5% in FY09 - 2.5% divided by 15.5% equal 12.9%). 

Click here for a detailed listing of all local districts which are entitled to receive an allocation for Fiscal Year 2009 (July 1, 2008 through June 30, 2009). The list contains the following information:

This information may be considered certified by the Director of the Illinois Department of Revenue in accordance with 50 ILCS 420, Tax Anticipation Note Act.

Please note that the Illinois Department of Revenue and staff shall in no way be liable for error or miscalculation in certification of entitlements.

* "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.