An error by the state will mean some taxing districts will have to pay back millions in tax dollars. The Illinois Department of Revenue issued a statement on Tuesday and said a recent tax system modernization uncovered a misallocation of $168 million in property taxes and the overpayments to nearly every taxing district in the state.
That means in order to get the money back, the state will withhold some of the funding in future allocations. The amount of money owed varies by taxing district, with some owing just a few dollars, while others owe millions. School districts receive the most state funding, and thus owe the most back to the state. The Alton School District must pay back more than $618-thousand, while the Granite City School District must pay back over $1-million. The Jersey School District owes more than $70-thousand dollars, and the Southwestern School District has to pay back more than $11-thousand. Municipalities are also included: the city of Alton owes more than $214-thousand, East Alton owes more than $86-thousand, Roxana more than $27-thousand, and Jerseyville owes more than $11-thousand. Madison County is on the hook for more than $425-thousand, while Macoupin County owes more than $24-thousand. Click the link for a full state list: http://tax.illinois.gov/AboutIdor/PressReleases/PR-2016-04-19.pdf