personal property replacement tax

Winnebago County Must Pay $626K From Tax Overpayment

Apr 26, 2016
Winnebago County

Winnebago County is still working on a way to repay the $626,000 it owes the state after a tax error. 

The mistake occurred when the Department of Revenue overpaid thousands of state districts for their 2014 Personal Property Replacement Taxes.  The funds would normally go to Winnebago County’s general fund and retirement system, but this year’s will need to be partially repaid.  County Administrator Stephen Chapman is frustrated at the state’s lack of a repayment plan.      

DeKalb County

A ledger error by the Illinois Department of Revenue has resulted in thousands of taxing districts, including DeKalb County, to be overpaid for their 2014 Personal Property Replacement Taxes.

Illinois’ local governments face a reduction of nearly 15 percent in personal property replacement tax money distributed by the state.

The Department of Revenue said the amount of replacement tax money available in the current budget year will be $1.054 billion -- down $182 million from last year -- to be split by more than 6,500 local governments around the state.

That means local governments that receive those funds will get 14.7 percent less than in 2011.