The District 233 board of education agreed to abate $5.24 million back to taxpayers at its Nov. 19 meeting when it passed its 2024 levy. Since 2018, residents of Homewood-Flossmoor have had $29.39 million in property taxes abated.
Abating taxes means the school district is asking for less money to be collected from property owners. District 233 is able to abate taxes because it is receiving an additional infusion of cash from the state through its Property Tax Relief Grant. The state mandates abatement for the funding, but District 233 board members tack on a voluntary abatement.
The district is limited by state law on how much of an increase it can levy – 5% or the Consumer Price Index, whichever is less. This year the district’s tax levy is increasing by the CPI rate of 3.4%.
Chief School Business Official Lawrence Cook said the real estate taxes collected for Homewood-Flossmoor High School have dropped from 65% to 55% of which the state funding portion is now 31%. The district also receives state and federal grants and revenue from other local sources, including the Corporate Property Replacement Tax.
All districts receive Evidence Based Funding to help cover school costs. The state put the Property Tax Relief Grant in place to help districts, like District 233, that have heavy property tax burdens.
Cook said the district’s levy was projected at $47.74 million, but due to abatements it dropped to $42.5 million. That $42.5 million is funding the education fund which pays the salaries of administrators and staff; the operations and maintenance fund for upkeep at the North and South Buildings and the grounds; a transportation fund covering busing costs; a working cash fund; an Illinois Municipal Retirement Fund payment and a social security fund.
The school board also gave Cook permission to apply for another Property Tax Relief Grant for 2025.
