60 ILCS 1/235-10
2021 Illinois Compiled Statutes|Chapter 60 - TOWNSHIPS|60 ILCS 1/ - Township Code.|Article 235 - Township Taxes

Sec. 235-10. Rate of tax; referendum to increase maximum rate.(a) In townships having an equalized assessed valuation of $36,000,000 or  more, taxes authorized by subsection (a) may be extended at a rate not  exceeding 0.25% of value, as equalized or assessed by the Department of  Revenue, of all taxable property in the township.(b) In townships having an equalized assessed valuation of $30,000,000 but  less than $36,000,000, taxes authorized by subsection (a) may be extended at a  rate calculated to yield tax revenues not exceeding $90,000.(c) In townships having an equalized assessed valuation of $15,000,000 but  less than $30,000,000, taxes authorized by subsection (a) may be extended at  a rate not exceeding the rate computed by subtracting 0.01% of value for  each $1,000,000 or major fraction thereof in excess of $15,000,000 but less  than $30,000,000 of equalized assessed valuation from the rate of 0.45% of  value.(d) In townships having an equalized assessed valuation of less than  $15,000,000, taxes may be extended at a rate not exceeding 0.45% of value,  as equalized or assessed by the Department of Revenue, of all taxable property  in the township.(e)(1) In townships having an equalized assessed valuation of less than  $10,000,000, taxes may be extended at a rate of not more than 0.45% of value,  or not more than 0.65% of value if approved by voters in the township in a  referendum on the limit increase, as equalized or assessed by the  Department of Revenue, of all taxable property in the township.(2) On the petition of at least 10% of the registered voters residing in  the township to the township clerk, the clerk shall order a referendum on the  proposition to increase the extension limitation as provided in the petition.  The township clerk shall certify the proposition to the proper election  officials, who shall submit the proposition to the township voters at the  next election in accordance with the general election law.  The proposition  shall be in substantially the following form:Shall the present maximum tax extension limit of     (insert present maximum tax extension limit) of the value, as equalized or assessed by the Department of Revenue, of the taxable real property in (name of township) be increased to a maximum tax extension limit of (insert proposed maximum tax extension limit) of the value, as equalized or assessed by the Department of Revenue, of the taxable real property in (name of township)?  The votes shall be recorded as "Yes" or "No".(3) If a majority of all ballots cast on the proposition is in favor  of the increase, the county clerk shall certify the results of the election to  the township clerk.(f) Any township having exceeded an equalized assessed valuation of  $15,000,000 before September 17, 1983, may tax at the rate authorized to be  extended under this Section if approved by the township voters at the annual  township meeting. If approval is not obtained, the tax may not be extended at a  rate of more than 0.25% of the value, as equalized and assessed by the  Department of Revenue, of all taxable property in the township.(g) Any township having assumed the rights, powers, duties, assets, property, liabilities, obligations, and  responsibilities of a road district abolished under the provisions of Section 6-133 of  the Illinois Highway Code may tax at a rate determined by adding the rate authorized to be extended under this Section to the last rate authorized to be extended for road purposes under Section 6-501 of the Illinois Highway Code.   (Source: P.A. 97-611, eff. 1-1-12.)