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Big Hollow School District Funding

EAV History and Tax Calculation

Tax Anticipation Warrants

The combination of meeting the academic and operational needs of an increasing student population, along with the restrictions imposed by the state-mandated tax cap, has forced the school district to implement the process of borrowing money.
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Illinois State School Funding

Members of the CAC are involved in understanding current state school funding challenges and new legislation. While not endorsing any of these, we are aware of the following pieces of legislation.

• House Bill 0750
  Summary: Significant rework of state taxation yielding better school funding. The state's portion of revenue increases from 12% to 40%, local revenue decreases from 86% to 58%, 20% property tax relief is estimated at $1,040,809, and total revenue to the Big Hollow school district rises from $6,082,670 to $7,177,669 (approx. 18% total increase).
  
  
• House Bill 0766
  Update: Passed both houses in July, sent to the Governor in August, passed on October 8.