Flossmoor School District 161 is eligible to receive about $1.7 million as part of the fiscal year 2020 Illinois Tax Grant Relief program.
The Illinois State Board of Education announced Jan. 27 that 39 school districts are eligible for the program this year, up from 28 districts the previous year, according to an ISBE press release.
The grant allows districts to cut local property taxes and use state funds to replace that revenue. For District 161, this means a total of $1,694,069 in property tax relief if the district applies for the maximum abatement amount.
Eligible districts have the highest tax rates in their category (elementary, high school or unit district) of those that applied.
The next step for eligible District 161 is for the school board to submit an abatement resolution to the Cook County Clerk by March 30.
Homewood-Flossmoor High School District 233 also will benefit from the grant program.
Homewood District 153 does not qualify because “the eligibility calculation does not take debt into account for this grant,” and John Gibson, District 153 business manager.
District 153 sold $4.5 million in General Obligation bonds in January 2019. Voters in a 2016 referendum approved the sale of $9 million in bonds to help keep school finances solvent. The first half of the bonds were sold in 2017.
Editor Marilyn Thomas provided information for this story.