CPI Increase Totals 33% – McHenry County Property Taxes Increased Over 75%
A friend of McHenry County Blog compiled the information explaining McHenry County Taxes in correlation to the Consumer Price Index.
The McHenry County Chairman and some candidates for County Board are claiming they have reduced your property tax by 11%.
The table below will show that the County probably had substantial leeway to reduce their property tax.
Additionally, the cut at the County was an abatement – they could reverse it later this year for next year.
In summary from 2002 to 2016:
County Population increased by 10.55%.
County Assessments have increased 29.44%.
County expenditures have increased 88.41%.
County Property tax collections increased by 76.74%
The Consumer Price Index (CPI) has increased by 33.8%.
Check which government bodies increased their levies more than 33.8% and you can identify government bodies who are living beyond the taxpayers’ ability to pay OR the voters approved referendums which increased levies.
The CPI at the end of 2017 was 245.12
Based on the report at this link, McHenry County expended $47,034,000 in 2002.
This link shows McHenry County had budgeted expenditures of $88,615,000 for 2016 which was an increase of 88.41% compared to 2002.
The contents of the table below were extracted from the McHenry County display of property taxes for 2002 and 2016.