Friday, March 31, 2006
Repeating History
According to the Daily Herald, the format used by the District 300 tax hikers in their first meeting aimed at storming the gates of the General Assembly to extract something they call “funding reform” consisted mainly of rehash of the huge tax hike bill Senate Bill 750 and the previous unsuccessful court cases.
The inequity of funding among Illinois school districts was discussed. It was not reported whether District 300 tax hikers figured out that District 300 taxpayers would most probably end up paying more than they would get back from Springfield in any such ”reform” initiative.
Just as a reminder, check out what people in your zip code would pay under the Senate Bill 750 that failed last year. This internet tax calculator was developed by crack education reporter Diane Rado of the Chicago Tribune.
In Algonquin, it predicts a net tax increase of Property owner's average net income and property tax increase of $973. The two would increase from $7,106 to $8,079 or 13.7%.
It shows the average reported household income to be $85,099. The average state income tax now is $2,553 and the average property tax is $4,553.
Under last year's SB 750, average income tax would go up to $4,255, while the property tax would fall to $3,824. Schools would get $729 more out of the deal.
Of course, after the huge tax increase, the figures could be predicted to change.
The increase in Huntley would only be $645 or 9.5%. That's because the reported household income is $69,861, lower than in Algonquin.
The inequity of funding among Illinois school districts was discussed. It was not reported whether District 300 tax hikers figured out that District 300 taxpayers would most probably end up paying more than they would get back from Springfield in any such ”reform” initiative.
Just as a reminder, check out what people in your zip code would pay under the Senate Bill 750 that failed last year. This internet tax calculator was developed by crack education reporter Diane Rado of the Chicago Tribune.
In Algonquin, it predicts a net tax increase of Property owner's average net income and property tax increase of $973. The two would increase from $7,106 to $8,079 or 13.7%.
It shows the average reported household income to be $85,099. The average state income tax now is $2,553 and the average property tax is $4,553.
Under last year's SB 750, average income tax would go up to $4,255, while the property tax would fall to $3,824. Schools would get $729 more out of the deal.
Of course, after the huge tax increase, the figures could be predicted to change.
The increase in Huntley would only be $645 or 9.5%. That's because the reported household income is $69,861, lower than in Algonquin.
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It's my understanding that Districts would still be able to hit their residents for more referendums.
If that is inaccurate feel free to clarify...........
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If that is inaccurate feel free to clarify...........
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