BFPD FY26 GFOA Budget - Flipbook - Page 72
| MAJOR REVENUE SOURCES
Replacement Taxes
Replacement taxes are collected by the State of Illinois and dispersed to local governments. These taxes
are meant to replace any funds that were lost when local governments did not have the power to impose
personal property taxes on corporations, partnerships and other businesses. This occurred when the State
of Illinois chose to abolish business personal property taxes. Taxes are now collected from these entities
and placed into the Personal Property Replacement Tax Fund to be dispersed to local governments.
Replacement taxes are the only other tax collected by the District and account for less than 1% of
the District’s total revenues budgeted in FY26.
Based on historical trends and a stabilized rate of collected revenue, FY26 replacement tax revenue is
budgeted at $50,000, representing a 3% decrease from FY25’s budget. This is budgeted to align with a
slight decrease in prior year’s collections.
REPLACEMENT PROPERTY TAX REVENUE BY
FUND
$160,000
$137,274
$140,000
$121,008
$120,000
$100,000
$60,598
$80,000
$61,240
$56,274
$60,000
$40,000
$50,000
$50,500
$51,005
FY27
FY28
$34,926
$20,000
$FY20
FY21
FY22
FY23
FY24
FY25
FY26
P a g e 72 | BARTLETT FIRE PROTECTION DISTRICT | BUDGET OVERVIEW
