Local Government Budgets

The Cost of a Two-Year Property Tax Freeze For Illinois Schools: Up to $830 Million

Release: June 23, 2017

Governor Bruce Rauner has made a property tax freeze a centerpiece of his demands for a full state budget, and the Illinois Senate passed a bill (SB484) that would enact a two-year freeze in May. But such a freeze, without provision for replacement revenue from the state, would effectively be a massive funding cut for K-12 education in Illinois.

How Much Are State Pension Payments Worth to Illinois School Districts?

Release: June 23, 2017

Every school district in Illinois except for the Chicago Public Schools has its teacher pension payments made by the state as a consolidated payment to the Teachers Retirement System. Because of this, it is difficult to determine how much money these pension payments are worth to individual districts. CTBA has created per-district estimates for both normal cost (the payment that covers benefits being earned by current employees) and legacy cost (the debt service payment to make up for previous years' underfunding).