The Bond County Unit 2 Board of Education has voted to apply for a grant offered through the Illinois State Board of Education.
Superintendent Wes Olson provided information about the grant to the school board. He said the General Assembly sets aside $50 million, from which, eligible school districts can apply for property tax relief. The Unit 2 district could receive around $1.6 million that could be abated in local property taxes. If awarded, the reimbursement would be about 91%.
Click below to hear more:
Eligible districts are those that exceed a threshold tax rate and agree to abate a portion of taxes in the upcoming tax cycle.
Olson said Unit 2 is on a list of districts, but it is possible the $50 million will be allotted before the Unit 2 application is considered.
The superintendent said if the district does receive a grant, the board would have to take official action to abate the entire $1.6 million.
The deadline for submission of the grant application is January 7.