Take a look at what the McHenry County Board will look at when they decide whether to give taxpayers a break next year.
You remember, the break the Board majority did not give in the real estate tax bills we just received.
Approximate 20 Year Effects of Not Taking CPI Increase on Future Levies
On May 22nd, the County Finance Committee approved this wording for leveling a tax increase for the 2013 Budget:
Consumer Price Index – The County of McHenry is mandated to follow the Illinois Property Tax Extension Limitation Law (PTELL) by the State of Illinois.
PTELL allows governing bodies the ability to cover the costs of inflationary increases incurred in their day to day operations by increasing their previous year’s extension by the CPI or 5%, whichever is smallest.
For the fiscal year 2013 budget, in the event that revenue projections should grow less than 2% or show declines (see Revenue Estimation paragraph above), the County Board will allow usage of the CPI to cover only the additional increased costs of
- union/non-union wage adjustments,
- health insurance increases,
- pension increases,
- utilities (electricity, natural gas, water & sewer) and
- all other new costs that have been presented and approved by the County Board (without source of funding stated) since the passage of the fiscal year 2012 budget up to the passage of this budget policy.
Once a balanced budget is presented to the full County Board with a prioritized listing of the supplemental requests, and if the full amount of the CPI was not needed to cover the costs mentioned above, the County Board will bring forth a decision on using the remaining CPI funds available to cover the costs of the recommended supplementals.
Can’t imagine why the song “I’m Just a Girl Caint Say, ‘No’.”
What percentage of the budget do you think the items listed above comprise?
If you prefer the original, which I remember seeing in Baltimore, Maryland, on the first row of the balcony when I was about 5, the movie version is below:
Can anyone spell “tax hike?”