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State use-tax reclassification and shrinking PPRT cut into Lee County revenue, staff warn
Summary
Finance staff explained that state reclassification of use tax receipts and a steady decline in Personal Property Replacement Tax (PPRT) have reduced expected county revenue and created forecasting challenges.
LEE COUNTY, Ill. — Lee County officials told the Finance Committee that state-level changes to how use tax and business replacement taxes are collected and distributed have reduced the county’s expected receipts and made forecasting more difficult.
Jeremy (staff member) explained that recent state adjustments have reclassified some collections previously pooled as “use tax” and redirected the true sales tax receipts to ZIP codes where large retailers have nexus. "So that's getting slowly weaned away…
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