ROCKFORD –State Representative Joe Sosnowski, R-Rockford, is reminding local school districts in Winnebago and Boone Counties that they can apply for a Property Tax Relief grant provided by the Illinois State Board of Education from now through the application deadline of January 7, 2019.
Beginning this year, the State Board will provide up to $50 million in property tax relief grants to eligible school districts. Eligible districts are those that exceed a threshold tax rate and that agree to abate a portion of taxes, up to a statutory limit, in the coming tax cycle. In return, qualifying districts receive a state grant in an amount that is a proportion of the tax relief provided.
“Strengthening our commitment to K-12 education while finding responsible ways to lessen the local property tax burden continues to be among my top priorities,” Representative Sosnowski said. “I am pleased that the FY 19 state budget includes this new property tax relief grant that eligible local school districts can take advantage of.”
Eligible districts are determined based on cumulative data submitted by school districts that apply for the grant. That data forms the basis of what is termed the “Unit Equivalent Tax Rate”. Grants are awarded in order of the highest Unit Equivalent Tax Rate among grant applicants.
The application form and additional information is available online at www.isbe.net/proptaxrelief.
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