This past week I have been writing articles about how close various tax districts are to reaching their statutory tax rate limits.
The basic information came from a search of the McHenry County Clerk’s tax rate web site.
I was looking for tax districts near their statutory rate maximum, ones that could not tax dollars, even if the Consumer Price Index increased.
The CPI is the limit on increase for those tax districts (pretty much all but Home Rule municipalities) under the Property Tax Cap.
When I looked at community colleges, I found one that levies almost no taxes in McHenry County.
It’s Rock Valley College, the junior college based in Rockford.
It’s maximum corporate rate is 23 cents per $100 of assessed valuation and that’s what it got last year.
That’s also what it will get next year for its Education Fund. No limit on the amount needed to pay back the bonds and pensions, of course.
No similar situation with McHenry County, Harper or Elgin’s community colleges.
They all are beneath the limits set by law or referendum.