The Illinois Department of Revenue announced Tuesday that an error has resulted in the overpayment of an estimated $168 million to the taxing districts that receive Personal Property Replacement Tax funding, a tax program that began under the administration of Governor Pat Quinn.
The revenue department says the error was discovered during the implementation of a new general ledger system.
The City of Jacksonville is being asked to return roughly $40,600, while Jacksonville School District 117 was allegedly overpaid $233-thousand.
The most egregious overpayment listed on the IDR is Chicago Public Schools, coming in at just over $23.5-million. The City of Chicago was allegedly overpayed about $19.4 million.
In a statement, revenue department director Connie Beard said, “We are certainly sensitive to the impact recouping these funds will have on some of our taxing districts…We will be working with the impacted taxing districts to establish a plan to recapture the funds over an extended period of time.
“The Auditor General’s regularly scheduled Financial and Compliance Audit of the Department began today, and we have fully disclosed the calculation error to the auditors for appropriate review.”
You can view the full list of taxing bodies affected by clicking below: