Since the team of Karen Tirio, Chris Jenner, Ron Parrish and Tom Wilbeck were elected to the McHenry County College Board six years ago, along with Molly Walsh, the MCC tax levy has remained constant.
With new growth occurring, the share of taxes that each property owner back then had been forced to pay has decreased each year.
That’s because all tax districts are allowed to increase their tax levies by whatever the increase in the Consumer Price Index (CPI).
The tax levy vote in the beginning was not unanimous.
But this year it was, as it has been in recent years.
Here is the press release released by MCC:
McHenry County College Continues to Save Taxpayers Money After Board Approves
Flat Tax Levy for Sixth Consecutive Year
[Oct. 29, 2018.Crystal Lake, IL] At their regular monthly meeting on Thursday, October 25, the McHenry County College Board of Trustees unanimously approved a flat tax levy for the sixth year in a row, saving taxpayers more than $20 per homeowner over six years, while offering a massive economic impact to the college district.
[Six years ago, Tenuta argued that the college should grab every dime it was allowed by law. To be specific, he said, ““If we don’t capture growth as it comes in we lose it forever.” That is the line that most educational institutions take and, by doing so, they guarantee that people’s taxes cannot go down. For the entire fall of 2013, Tenuta talked gloom and doom. It is wonderful that he has finally gotten in touch with the taxpayer-sensitive MCC Trustees.]
“One significant way this was done was through keeping the levy flat for the sixth year in a row.”
While the College is allowed, by law, to collect revenue tied to the Consumer Price Index (CPI), MCC board members agreed to not collect CPI revenue from taxpayers for the sixth year in a row, resulting in a flat tax levy.
By holding the levy flat again this year, the college district’s taxpayers will have saved approximately $22.20 per parcel over the past six years, Tenuta said.
Based on the overall average cost per parcel of $186.04, based on 2017 McHenry County data, this 22.20 savings per parcel represents a cut in taxes of about 11.9 percent, he added.
The following financial statistics are examples of how MCC has saved community taxpayers money:
By not capturing new property growth since 2013, a cumulative savings per parcel has saved taxpayers a cumulative estimate of $6.19.
When factoring in the new property growth savings the total actual average savings jumps to $28.39 or a 15.3 percent tax savings.
By not levying according to the CPI-U annually since 2013, a cumulative savings per parcel has saved taxpayers a cumulative estimate of $63.31.
“We are very proud of the fact that we have controlled spending repeatedly, with the end goal to return value to the community without compromising exceptional quality,” MCC President Clint Gabbard, Ph.D. said.