Legislation aimed to ensure Illinois schools receive all of the property tax money committed to them through the tax extension process passed out of the Illinois Senate on April 12.
Senate Bill 1043 seeks to address the concern that school districts, as well as all other taxing bodies, are losing funding due to refunds issued by county treasurer’s offices for Certificates of Errors and appeal adjustments, both of which are out of the control of the taxing district.
The reduction in a taxing district’s expected levy revenue is a result of the cancellations and abatements administered by the state and county offices. These adjustments, made after a taxing body’s levy is approved and the tax bills are sent, are preventing taxing districts, such as schools, from receiving 100 percent of their publicly approved levy extensions.
The bill is currently in the House of Representatives for further consideration.