Although the law is commonly referred to as “tax caps,” use of this phrase can be misleading. The PTELL does not “cap” either your individual property tax bills or individual property assessments. Instead, the PTELL allows a taxing district such as the Dixon Park District to receive a limited inflationary increase in tax extensions on existing property, plus an additional amount for new construction, and voter approved rate increases. The limitation slows the growth of property tax revenues to taxing districts when property values and assessments are increasing faster than the rate of inflation. As a whole, property owners have some protection from tax bills that increase only because the market value of their property is rising rapidly. If a taxing district determines that it needs more money than is allowed under the PTELL, it can ask the voters to approve an increase via a referendum.” The Lee County PTELL does not affect governmental entities that overlap two or more counties. For example, Dixon Public Schools are not under PTELL restrictions because the Dixon District includes a portion of Ogle County. As with most things, you can’t have your cake and eat it, too. If you want lower taxes, then extra amenities such as swimming pools and indoor recreation centers are usually not possible.
- The tax rate for the Dixon Park District is .49 for the taxes you paid in 2014.
- The Sterling Park District tax rate is $1.14. They are not under PTELL.
- The Princeton Park District tax rate is .94. They are not under PTELL.