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Who qualifies to receive personal property replacement tax payments?
Only districts that collected personal property taxes for the 1977 tax year (1976 for Cook County) are eligible to receive a share of the money. Districts created after 1977 do not receive replacement tax money since they did not experience a loss in revenue. For more information, see Personal Property Replacement Tax - Local Governments or PTAX-1002-23, Local Governments' Guide to Tax Allocations, Calculation of Proportionate Share of Personal Property Replacement Taxes.
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