Algonquin Township Assessor Bob Kunz, in his last term, having taken office in the mid-1970’s, comments on Realtor Terry Pounds commentary:1) most people in McHenry County are not under assessed, as the equalization process corrects for that potential.
2) the assessed value is an allocator, not a generator, of total tax collections.
It does not generate an extra dollar of total taxes collected, as it does not function like a sales tax.
If this is hard to understand, ask yourself: during the real estate disaster of 2008 and thereafter, while assessments decreased year after year, did property taxes go up or down?
3) freezing tax rates would increase taxes in an up-trending market, which characterizes the present market.