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Fiscal Year 2016 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 2016.

The FY-16 RT allocations are estimated at $1,462 million. This is an increase of 1.9% or $27.6 million from FY-15 allocations that totaled $1,434 million.

NOTE:  This estimate uses information provided in the Governor’s Budget Book for spending on IDOR salaries and local government reimbursements/stipends as provided in the statute.  Therefore, variances from this estimate will be caused if any of these amounts change in the final State Budget.  

A detailed listing of the approximate 6,500 local taxing districts which are entitled to receive an allocation for Fiscal Year 2016 (July 1, 2015 through June 30, 2016) is available here. The list contains the following information:

  • District name
  • District number
  • FY 2016 estimated amount
  • FY 2015 actual disbursement amount
  • Vendor number

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 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.