MCLEAN COUNTY, Ill. (WMBD) — A referendum on the April 1 ballot could, at the same time, help support local schools and lower property taxes in the county.
Both Unit 5 and District 87 said in a joint news release that if the proposed County Schools Facility Tax was passed, a third of the revenue from the new 1% sales tax will be put towards reducing property taxes in the districts.
Both school districts passed resolutions on how money from the proposed tax would be spent during their meetings on Wednesday. Both had voted in December to put the referendum on the April ballot.
Most of the money will be used towards school facility improvements, mental health services and school resource officers. A third of the anticipated revenue would go towards lowering property taxes for at least five years, the districts said.
“If the referendum is approved, a portion of this revenue will be used to offset property taxes providing some relief for property owners alongside funding for the safety, facility and support needs of our schools,” said David Mouser, District 87 superintendent.
The tax would be applied to items that are currently subject to sales tax in the state including dining, gasoline and online sales. Groceries, medication, vehicle purchases, personal services and farm equipment will be exempt from the taxes, according to the release.
The money will be distributed to schools based on student enrollment.
The financial services firm Stifel said about 35% of the tax revenue is expected to come from people visiting the county.
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