Truth in Taxation Hearing Notice

STATEMENT FOR TRUTH IN TAXATION HEARING – 2018
FRANKLIN COUNTY BOARD
Randall Crocker, Chairman
 
Every taxing district in Illinois—including Franklin County—is subject to the Truth in Taxation Law. This law requires taxing districts to disclose by publication and to hold a public hearing on their intention to adopt an aggregate levy in amounts more than 105% of the amount of property taxes extended or estimated to be extended upon the final aggregate levy of the preceding year. Franklin County is also subject to the Property Tax Extension Limitation Law, commonly known as PTELL. PTELL is designed to limit the increases in total property taxes billed for non-home rule taxing districts such as Franklin County Government. PTELL allows a taxing district to receive a limited inflationary increase in tax extensions on existing property, plus an additional amount for new construction. For the 2018 tax year, the county desires to fully utilize its ability to capture revenue from assessment additions due to property leaving the Benton/Franklin County Enterprise Zone or property added as new construction. In order to capture this new property value for Franklin County, we are required by law to hold this truth in taxation hearing. The corporate and special purpose property taxes extended or abated for 2017 were $3,967,204. The proposed corporate and special purpose property taxes to be levied for 2018 are $4,284,580. This represents an 8% increase over the previous year. To be clear, the purpose of this Truth in Taxation hearing is NOT to raise property taxes on the individual taxpayers and businesses of Franklin County. The only purpose of this Truth in Taxation hearing is to enable Franklin County to capture the new property value resulting from parcels related to property leaving the Benton/Franklin County Enterprise Zone, and any new construction.
 
 
Notice of Proposed Property Tax Increase for Franklin County
 
I. A public hearing to approve a proposed property tax levy increase for Franklin County for 2018 will be held on October 15, 2018 at 3:00 in the County Board Meeting Room of the Campbell Building at 1 Public Square, Benton, IL 62812.  Any person desiring to appear at the public hearing and present testimony to the taxing district may contact Gayla Sink, County Board Administrative Assistant, 1 Public Square, Benton IL 62812, 618-439-3743.
 
II. The amount of property taxes, less exclusion for debt service, extended on behalf of Franklin County for 2017 were $3,967,204.  The amount of the proposed levy, less exclusion for debt service, for 2018 is $4,284,580.  The percentage of increase of the current year levy over the amount extended or estimated to be extended for the preceding year is 8%.
 
III. The property taxes extended for debt service and public building commission leases for 2017 were $245,034. The estimated property taxes to be levied for debt service and public building commission leases for 2018 are $245,034. This represents a 0.00% increase over the previous year. 
 
IV. The total property taxes extended or abated for 2017 were $4,212,238. The estimated total property taxes to be levied for 2018 are $4,529,614. This represents an 7.53% increase over the previous year.