Illinois Compiled Statutes 35 ILCS 200/18-235 – Tax increment financing districts
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Terms Used In Illinois Compiled Statutes 35 ILCS 200/18-235
- Aggregate extension base: means the taxing district's last preceding aggregate extension as adjusted under Sections 18-135, 18-215, 18-230, 18-206, and 18-233. See Illinois Compiled Statutes 35 ILCS 200/18-185
- limiting rate: means a fraction the numerator of which is the last preceding aggregate extension base times an amount equal to one plus the extension limitation defined in this Section and the denominator of which is the current year's equalized assessed value of all real property in the territory under the jurisdiction of the taxing district during the prior levy year. See Illinois Compiled Statutes 35 ILCS 200/18-185
Extensions allocable to a special tax allocation fund and the amount of taxes abated under Sections 18-165 and 18-170 are not included in the aggregate extension base when computing the limiting rate.