County School Facilities Sales Tax
On November 8, 2016 voters in Peoria County passed a 1/2% County School Facilities Sales Tax for public school facilities. The passage of this initiative will help us provide the best possible facilities for the current and future students of the IVC School District.
The 1/2 percent sales tax went into effect on July 1, 2017 in Peoria County.
During the first year of the County School Facilities Sales Tax, 2017-2018, the IVC School District received $683,723.17. Thank you for your continued support of the IVC School District!
Fiscal Year 2018 CSFST Expenditures
During the January 23, 2018 regular school board meeting, the IVC School Board passed a resolution abating $360,000 in property tax revenue for Bond payments to be paid with school facilities sales tax revenue. This abatement kept the promise of the Board to use facilities sales tax revenue to help maintain our low property tax rates in the district. This abatement decreased the tax rate for the school district by approximately 13 cents.
The remaining funds collected during the 2017-2018 school year will be used for facilities improvements during the 2017-2018 school year including renovations to the IVC Learning Center and desperately needed roof repairs at Chillicothe Elementary Center. The use of school facilities sales tax revenue in lieu of selling bonds to complete these projects again allow the school board to maintain our low property tax rate rather than increase property taxes for our residents.
Thank you for your support of the school districts in Peoria County!