Four Lake County School Districts among first beneficiaries of state’s new property tax alleviation grant

Four Lake County School Districts among first beneficiaries of state’s new property tax alleviation grant

Four Lake County school districts were among 28 districts crosswise over Illinois chose for the state’s first property-charge alleviation gifts, which give regions extra state dollars in return for decreasing a part of their property tax dollars.

The Lake County districts incorporate Antioch and Lake Villa-based Community High School District 117, Grayslake Community High School District 127, Zion Elementary School District 6 and Zion-Benton Township High School District 126, as indicated by the release.

The districts were chosen from among the 373 school areas — including 17 from Lake County — that connected for an aggregate $50 million in subsidizing, as indicated by state records. They were picked in light of the fact that they had the most elevated assessment rates of the areas that connected dependent on a recipe that gauged whether they were a unit, elementary or secondary school locale.

In return for the give dollars, the areas need to subside a part of their property charges by March 30, as per the release. The amount they need to subside this year is more than what they’ll get from the first year of the allow.

The most extreme, for instance, Zion-Benton Township High School District 126 can get in grant dollars is $1.79 million, as indicated by state information. In return, the region would need to lessen $1.84 million.

On the off chance that the districts lessens less, the region would get 98 percent of whatever it decreases, as indicated by state information. The percentage varies by districts.

How much individual taxpayers will spare this year relies upon how much the locale’s educational committee chooses to lessen.

The areas won’t need to decrease the assessments in future years however will keep on accepting the concede dollars every year as a major aspect of their state help, said Jackie Matthews, the Illinois State Board of Education representative.

The grant program was made as a feature of the new proof based financing model, marked into law in August 2017, which was intended to send more state dollars to areas with less neighborhood wealth.

On the off chance that the Illinois General Assembly keeps on planning dollars for the allow program, all districts, including the current year’s beneficiaries, can apply, Matthews said.