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Property Tax › Educational Institutions › School Districts

Property Taxes are taxes levied against the owner of property located within a particular jurisdiction. Property taxes are often used to refer to taxes on real property. Property taxation schemes vary depending... more +
Property Taxes are taxes levied against the owner of property located within a particular jurisdiction. Property taxes are often used to refer to taxes on real property. Property taxation schemes vary depending on the country or jurisdiction.  However, a popular system involves a government assessment of the value of a property and a rate based on a proportion of the assessed value. A property may be subject to taxation by multiple taxing entities.  less -
Farrell Fritz, P.C.

Annual Property Tax Report Cards – $3.64 Billion in School District Cash Reserves

Farrell Fritz, P.C. on

In May, the annual New York State Property Tax Report Cards for School Districts were released by the Department of Education.  The report cards include estimates of fiscal reserves that each school district expects to have...more

Franczek P.C.

Governor signs Bill Amending PTELL and School Code on Several School Finance Provisions

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On Monday Governor Pritzker signed into law Public Act 102-0895 (Senate Bill 1975) creating Section 18-190.7 of the Property Tax Code, which modifies how certain school districts and other units of local government can...more

Franczek P.C.

2018 Springfield Legislative Update: Summary of New Legislation & Pending Bills

Franczek P.C. on

The following is a summary of the 2018 legislative changes affecting school districts. ...more

Franczek P.C.

Appellate Court Overturns School District’s Attempt to Vacate Ill-Advised Tax Rate Objection Settlement Reached by State’s...

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Last week, an Illinois Appellate Court denied several school districts’ attempt to vacate a settlement agreement between the taxpayers’ attorney and the Will County State’s Attorney’s Office in a tax rate objection case. The...more

Franczek P.C.

Illinois Court Finds Special Property Tax Exemption Unconstitutional

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A property tax exemption designed to benefit a single aviation company was recently found unconstitutional by the Illinois Appellate Court. The exemption was only for fixed base operators (FBOs) providing aeronautical...more

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