Based Funding News Today

The legislature has approved the Fiscal Year 2025 budget, which outlines spending for the year beginning on July 1, 2024. The approved budget includes estimated revenues of $53.281 billion and spending of $53.074 billion, marking it as the largest budget in state history. This figure surpasses the Governor's February budget address request by several hundred million dollars and includes nearly $1 billion in tax increases.

The legislature has approved the Fiscal Year 2025 budget, guiding spending for the year beginning on July 1, 2024. The budget includes estimated revenues of $53.281 billion and spending of $53.074 billion, making it the largest in state history. It surpasses the Governor's February request by several hundred million dollars and incorporates nearly $1 billion in tax increases.

Data from the Illinois State Board of Education (ISBE) show Unit 5 tax rates are lower than average among peer districts in total property tax rate. That also would be true if rates that would go into effect after a successful referendum are compared to the most current data available statewide.

Illinois state lawmakers are drawing lines in the sand after the reveal of Gov Pritzker's porposal for the 2022 budget.