Section 159.2. Reports by local taxing authorities

Latest version.

Cut-off date on adjustments. The cut-off date on adjustments shall conform with the following:
(1) An adjustment to the assessed values, tax rates, realty tax equivalent or total tax receipts shall be submitted by a local taxing authority to the Department on or before August 1 of the year the Department will distribute to each reporting local taxing authority its share of the total realty tax equivalent.
(2) If the adjustment is submitted by a local taxing authority to the Department after the August 1 cut-off date, the adjustment will be incorporated into the determination by the Department in its next subsequent distribution.

                    
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