Two changes in tax exemptions offered to Illinois taxpayers will mean a decrease in local funding for school districts.<\/p>\n
Districts rely on property taxes for a significant part of their budgets.<\/p>\n
For the Collinsville School District, that decrease is expected to total close to a $800,000 revenue shortfall for next year.<\/p>\n
“We’re not alone with this. All school districts are affected – some more and some less,” said Superintendent Dennis Craft. “But we did not expect this (cut in funding) to this extent.”<\/p>\n
The decrease stems from two exemptions. One, called the Homestead Exemption, is offered to senior citizens. The program increased the reduction amount from $2,500 to $3,000 on property assessments.<\/p>\n
Another program, called Senate bill 1790, or owner-occupied exemption, increases what can be omitted from property assessments by as much as $1,500 from what was originally set at $3,500. This means that homeowners can potentially pay less in taxes because their property assessments are decreased. Seniors who own a home can take advantage of both exemption programs, saving as much as $8,000 from their home’s assessed value.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
In a story entitled "Between a rock and a hard place", the St. Louis Post-Dispatch must choose between tax spending government bureaucrats and senior citizens. And it chooses the government spenders: Two changes in tax exemptions offered to Illinois taxpayers will mean a decrease in local funding for school districts. Districts rely on property taxes […]<\/p>\n","protected":false},"author":3334,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":["post-2013","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/posts\/2013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/users\/3334"}],"replies":[{"embeddable":true,"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/comments?post=2013"}],"version-history":[{"count":1,"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/posts\/2013\/revisions"}],"predecessor-version":[{"id":20485,"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/posts\/2013\/revisions\/20485"}],"wp:attachment":[{"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/media?parent=2013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/categories?post=2013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/tags?post=2013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}