State law limits the amount of money that can be levied for many specific purpose funds. The limits can only be changed by local voters or State legislation. A notice must be placed in the paper announcing the hearing. It is at this hearing where citizens can voice their opinions regarding the proposed levy. Tax extensions are the ending numbers resulting from tax levies going to the County and filtering through all the restrictions.
Extensions take into account tax rate limits, tax cap limits, and other abatements.
Extensions represent the actual dollars which will be billed on behalf of the taxing body. The County Clerk makes the extension calculation for each taxing body's levy. Generally, in April of each year, the County Clerk prepares a certification of assessed values, tax extensions, and tax rates for each taxing body. Your tax bill is calculated shortly afterward. This is the most asked question.