What is a levy?

- The governing board of each taxing unit determines how much money is needed to operate during the coming year and how much must be raised from the property taxes.

- Certified to the County Clerk no later than the last Tuesday in December.

- Tax levies are made for the various activities of government.

- Money is allocated separately for each levy by spending account or "fund".

- The fund structure is the framework within which the financial decisions of local governmental units are made.

- Government bodies are entitled by State statute to use a number of funds. These could include a corporate (or general) fund, a bonds interest fund, and other specialized funds, such as a fire protection fund, a library fund, or a street and bridge fund.

Show All Answers

1. How does the equalization factor effect tax rates?
2. What is a levy?
3. How do levies affect tax rates?
4. What makes tax bills increase?
5. When are taxes extended (billed)?
6. How is the tax rate computed?