Kifowit Legislation Providing Property Tax Relief to Area Homeowners Passes House

AURORA, Ill. – Working in collaboration with Oswego School District 308, legislation sponsored by state Rep. Stephanie Kifowit, D-Oswego, to ensure Oswego and other school districts to use capitol grant funding to create property tax reduction for homeowners in the district by paying outstanding debt, passed the House Tuesday.

“These capitol grants were awarded about 10 years ago, and there were no guarantees that these grants would be used to reduce property taxes that were raised to pay for the buildings,” Kifowit said. “This legislation gives a peace of mind to the property tax payers that reducing their tax burden is a priority for not only me, but for the entire state. “

Kifowit’s House Bill 3823 requires school districts outside the City of Chicago to use a minimum of 80 percent of construction grant funds, if awarded, to first reduce or pay off any outstanding debt. They must also reduce the district-wide amount of property taxes, known as the “debt levy” by an amount equal to or greater than the amount of the grant funds used to pay down the debt within the first 5 years of receiving the funds. Realizing that property taxes mostly go to the school districts, Kifowit has been working closely with Oswego School District 308 to bring proposals, such as this one, to provide property tax relief. Oswego District 308, which is owed a construction grant from ten years ago through the Capital Development Board, has committed that upon receiving money owed to them, they would pay down debt and potentially lower property tax rates.

“Working collaboratively with other forms of government to help residents produces good legislation such as this,” Kifowit said. “This legislation will ensure that once a district is given these funds they use it to lower the levy, which may in turn lower property taxes.”

For more information, please contact Representative Kifowit’s constituent service office at 630-585-1308, by email at Stephanie.Kifowit@att.net, or by visiting www.ILDistrict84.com.