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Grayslake 127 School Board Approves Property Tax Abatement

Grayslake 127 School Board Approves Property Tax Abatement

On March 21, 2019 the District 127 School Board approved a resolution to abate $2,907,681.12 to provide property tax relief to the Grayslake community. The state of Illinois has provided a $50 million state grant to those school districts with the highest unit equivalent tax rate compared to all the districts that applied.  

A total of 373 school districts applied for the Property Tax Relief Grant in this first year of implementation, and Grayslake 127 is one of 28 school districts in the state eligible to receive the grant fiscal year 2019. Future grant eligibility is subject to state appropriations to the Evidence-Based School Funding model. for

School district officials estimated the average savings could range from $85 to $150 on a $250,000 home.  The amount of reduction will be determined by the Lake County Clerk’s Office and taxpayers will likely see the reduction on their May 2019 tax statements.

School Board President Ed Brown stated, “Property owners in District 127 have seen less money from Federal and State sources government creates many unfunded mandates which are then passed on and paid for by property owners. I am glad to see this relief coming back from the State to ease the property tax burden."while

Superintendent Mikkel Storaasli added, “We are thrilled to provide this tax reduction to homeowners and businesses in our community.  In addition, our community will see a further tax decrease from District 127 over the next several years as bonds are retired. The bonds were incurred in 2002 to finance the construction of Grayslake North High School and building improvement projects at Grayslake Central High School.”