Capitol Fax.com - Your Illinois News Radar » $54 million down, billions more to go
SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
$54 million down, billions more to go

Monday, Jan 27, 2020

* Press release…

The Illinois State Board of Education (ISBE) today announced the 39 school districts that are eligible for the fiscal year 2020 Property Tax Relief Grant – a significant increase in eligible districts over the previous year. The grant, part of the Evidence-Based Funding for Student Success Act, allows eligible school districts to cut local property taxes and replace that revenue with state funds.

Governor JB Pritzker’s FY 2020 budget appropriated $3.65 million more for the grant than in FY 2019. The FY 2020 grant can serve 11 more districts than it did in FY 2019, when 28 school districts received the grant.

The $53,650,000 grant can replace a total of $57,313,122 in local property taxes, once school districts proceed with the abatement. The districts that are eligible for the grant are those that have the highest tax rates within their organization type (elementary, high school, or unit district) out of all those that applied. Eligible districts must submit an abatement resolution to their county clerks by March 30. ISBE will distribute the grant to each eligible district after receiving the Certification of Abatement Form from the county clerk.

Public Act 101-0017 made changes to the program effective this year to expand eligibility to additional districts and to require tax abatement for two consecutive years for the grant amount to become a permanent part of the school district’s Base Funding Minimum going forward.

Click here for the list of communities.

While important to those individual communities and while it will make a difference, that $53.6 million grant is around 0.2 percent of the total property tax levy of about $30 billion.

- Posted by Rich Miller        

10 Comments
  1. - Telly - Monday, Jan 27, 20 @ 1:57 pm:

    == $53.6 million grant is around 0.2 percent of the total property tax levy of about $30 billion. ==

    True. It’s a drop in the bucket. But this program does provide a legal mechanism for a version of a property tax swap. It should be expanded.


  2. - Blue Dog Dem - Monday, Jan 27, 20 @ 2:34 pm:

    If JB would guarantee that half the proceeds from the Progressive Tax would be dedicated to either this program or paying down pension debt, I would be inclined to vote yes. Kinda the proverbial ‘lock box’ pledge.


  3. - DarkDante - Monday, Jan 27, 20 @ 2:38 pm:

    ==half the proceeds from the Progressive Tax would be dedicated to either this program or paying down pension debt==

    Pritzker has said that he would devote and extra $200M a year (over and above thea actuarial requirement) from the Graduated Structure to pay into the pension funds. With that pledge, I would say that over half of the projected Graduated Income tax incremental revenue would be going towards pensions… So I look forward to you voting yes on ballot initiative come November. ;)


  4. - DarkDante - Monday, Jan 27, 20 @ 2:39 pm:

    Lotta typos there, but I believe it is interpretable. Usually checking this blog while in the office, so please forgive me!


  5. - Blue Dog Dem - Monday, Jan 27, 20 @ 2:43 pm:

    Dark. Nice try. I need at least $1.75 billion. Not $200 mil.


  6. - Demoralized - Monday, Jan 27, 20 @ 3:11 pm:

    ==I need at least $1.75 billion.==

    I’m assuming you won’t complain about the tax increase that would be necessary to accomplish this swap right?


  7. - Elliott Ness - Monday, Jan 27, 20 @ 3:33 pm:

    Drop, meet bucket, this is all sizzle and NO STEAK. A meaningless part of the funding formula model and unless there is a commitment to allow for substantial swap in the form of income or property taxes this is just not a starter.


  8. - Blue Dog Dem - Monday, Jan 27, 20 @ 3:44 pm:

    Demorilized. Did I miss where the new revenue was already spent?


  9. - Demoralized - Monday, Jan 27, 20 @ 5:02 pm:

    That’s what I thought. Want your cake and to eat it to. You want billions in property tax relief? You’re going to have to exchange it for billions in other tax increases. Pick your poision. Because you can’t have both. Be cute all you want. It just shows you aren’t serious.


  10. - Blue Dog Dem - Monday, Jan 27, 20 @ 9:28 pm:

    No Dem. couldn’t be anymore serious. No property tax relief for higher income tax or no significant pension pay down. No vote.


TrackBack URI

Sorry, comments for this post are now closed.


* Gaming roundup: No betting on Illini/DePaul tournament games; Indiana's troubles; Harmon's video gaming gusher; Sweepstakes issues
* Pritzker won't have to sit for deposition
* Rep. Delgado qualifications hearing won't happen until after the primary
* Rate Darren Duncan's new TV ad
* Now, here's something you don't see every day
* The Illinois Credit Union League: Helping Credit Unions Succeed By Working Together!
* Underwood is basically on her own
* Open thread
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* *** LIVE COVERAGE ***
* Yesterday's stories

Support CapitolFax.com
Visit our advertisers...

...............

...............

...............

...............

...............

...............


Loading


Main Menu
Home
Illinois
YouTube
Pundit rankings
Obama
Subscriber Content
Durbin
Burris
Blagojevich Trial
Advertising
Updated Posts
Polls

Archives
February 2020
January 2020
December 2019
November 2019
October 2019
September 2019
August 2019
July 2019
June 2019
May 2019
April 2019
March 2019
February 2019
January 2019
December 2018
November 2018
October 2018
September 2018
August 2018
July 2018
June 2018
May 2018
April 2018
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
April 2005
March 2005
February 2005
January 2005
December 2004
November 2004
October 2004

Blog*Spot Archives
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005

Syndication

RSS Feed 2.0
Comments RSS 2.0
WordPress




Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller