Politics & Government
Lake Forest, Lake Bluff Must Pay Thousands Back to State
A statewide series of overpayments could have school districts and other taxing bodies in both communities on the hook for more than $350K.
Lake Forest and Lake Bluff school districts and other local governmental bodies will need to repay thousands of dollars to the state because of a mistake in calculating how much tax revenue these agencies received, the Lake Forester reports.
About $168 million was wrongly paid to local bodies between 2014 and 2015 by the Illinois Department of Revenue. The overpayment stems from a 1979 law set up to replace funds communities lost when they could no longer tax corporate personal property.
RELATED: Lake Forest Ranked 19th Best High School in State on U.S. News 2016 List
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The state is still trying to determine how much local government bodies owe, but some local institutions have already been trying to determine the approximate amount they'll need to repay, the Lake Forester reports. Here's how much some of the area school districts estimate they might need to pay back:
- Lake Forest School District 115: $40,000
- Lake Forest School District 67: $25,000
- Lake Bluff School District 112: $19,714
The City of Lake Forest and the Village of Lake Bluff also owe the state repayments, the report stated. The following figures are the estimated amounts owed, according to the Lake Forester:
Find out what's happening in Lake Forest-Lake Blufffor free with the latest updates from Patch.
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