SPRINGFIELD, Ill. – A bipartisan compromise that reforms Illinois’ broken school funding formula is a critical first step toward real property tax relief, said state Rep. Michelle Mussman, D-Schaumburg.
“For too long, Illinois’ school funding formula has been broken, forcing local property taxpayers to pick up larger and larger bills every year to make up for the state’s failure to properly fund education,” Mussman said. “I worked with Republicans and Democrats to enact a new evidence-based funding system that encourages schools to use innovative education practices, gives local parents greater control of how their education dollars are spent, and provides a critical first step toward property tax relief for homeowners in our community.”
The Mussman-backed Senate Bill 1947 reforms the way schools are funded to provide fair and equitable funding for all schools in Illinois and prevents the creation of winners and losers by ensuring that no school loses money. Adequate state funding for education is a critical step toward property tax relief. Mussman’s compromise legislation also provides many homeowners with the ability to cut their property taxes by up to 10 percent through a citizen-initiated referendum, while ensuring schools remain fully funded.
“The new formula moves us along the course of long-term sustainability with respect to funding our schools while also offering more local control in the process,” said Mussman. “This reform package united Republicans and Democrats to help deliver a win for students, their families and taxpayers in our community and throughout the state.”