In accordance with current statute, the Illinois Department of Revenue is required to provide an estimated entitlement* of the amount of Personal Property Replacement Taxes for Fiscal Year 2020.
The Fiscal Year 2020 replacement tax allocations are estimated at $1,537 million. This is an increase of 15.4% from Fiscal Year 2019 replacement tax allocations that totaled $1,332 million.
Click here for more information and a detailed listing of the approximately 6,500 local taxing districts which are entitled to receive an allocation.
* Entitlement - the amount of the Replacement Tax paid or to be paid in any given full year to a unit of government.