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Argo CHSD 217 reports eligibility for $1.94 million Property Tax Relief Grant; shows month-end fund balance decline
Summary
The district reported eligibility for a $1,940,852 Property Tax Relief Grant that requires $2,004,064 in tax abatements for levy years 2025–2026; staff also reported a February 28 fund balance of $45,445,922 and month revenues/expenditures.
Argo CHSD 217 told the finance committee it was notified it is eligible for a Property Tax Relief Grant (PTRG) totaling $1,940,852. The district said qualifying for the grant requires abating $2,004,064 in property taxes across levy years 2025 and 2026; the PTRG-related item appears on the agenda as Resolution #25-26-R07.
At the March 25 meeting the district reported its fund balance in cash reserves was $45,445,922 as of Feb. 28, 2026, down from $46,631,457 the prior month. For February the district reported $2,768,171 in revenues and $3,953,706 in expenditures. Officials said the district is eight months (67%) into the fiscal year, has received 49% of budgeted revenues year to date and has spent 56% of budgeted expenditures.
Why it matters: the PTRG eligibility could reduce net property tax levies for the district’s taxpayers if the board approves the required abatement, but the abatement requirement also changes levy calculations. The finance committee recorded the grant eligibility and the abatement requirement on the agenda; any formal action on the abatement was not recorded at this meeting and would appear in subsequent board proceedings.
Next steps: the agenda lists the PTRG abatement resolution for board consideration; the finance office will include the item for the April board meeting materials.
