Green: Referendum needed in face of revenue decline
It is difficult to pick up a newspaper today and not read an article about school funding woes in the state of Illinois.
I am not sure if Somonauk School District 432 caught it earlier than others, or had further to fall because of higher-than-average Lake Holiday and surrounding area property values, but the end result is the same.
Since 2009, the district has seen a significant decline in EAV, or Equalized Assessment Valuation (home values) and as a result has already seen a drop of more than $1 million annually.
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