Published: May 18, 2008 12:29 am         

District 118 announces lower tax rate

School officials worry about state funding

DANVILLE — Danville District 118 will have a lower tax rate this year for property taxes received for the 2008-09 school year.

The district’s tax rate this year will be $4.8945, down from last year’s rate of $4.9624. The County Clerk extended the $19,659,123 to the district, which was within .1 percent of the district’s levy of $19,678,553.

The District 118 board of education and administration are pleased with the results of the levy, noting the mutually benefi-cial result of more dollars for the district and a lower tax rate for property owners.

During the 2007-08 year, the district’s tax extension was $19,008,773, and it received $18,887,273 of those funds. The local property tax levy accounts for approximately 30 percent of the district’s revenues.

According to a statement, it is still uncertain if the state will make the 23rd and 24th general state aid payments or the fourth categorical payments.

Currently there is a shortfall of funds necessary for the state to fund these payments to school districts.

The state’s inability to pay would equate to $2.5 million less funding to District 118 than originally allocated for the 2007-08 year.