Will Lower Assessments Lead to Lower Taxes?

The Illinois real estate assessment system bases one’s share of the total bill on the value of one’s property (unless one has farm land). A short history of how we got where we are. The 1870 Constitution required that real … Continue reading

Algonquin Township Assessments Get Negative Multiplier of 4.22%

Real estate assessments on property in Algonquin Township will be decreased by 4.22% as a result of the McHenry County Supervisor of Assessments having applied what is called a “negative multiplier.” That does not mean tax bills will decrease. That’s … Continue reading

County Legislative Committee Considering Tax Cap Modification

You may remember that McHenry County Blog revealed that the County’s nursing home, Valley Hi, has $35 million in the bank.  That’s as of the end of November, 2013. Now, it’s $36 million. A lot of that is clearly surplus … Continue reading

McHenry County Tax Take Up by 1.5% or $12 Million

Last year McHenry County real estate taxpayers were billed $797,419,250.88. This year the McHenry County Clerk’s Office has determined that bills amounting to $809,385,180.76 will be issued. That’s a dollar increase of $11,965,930, a percentage increase of 1.5%. The Property … Continue reading

County Government Aims to Capture New Growth

The inadequate language of the Property Tax Cap encourages tax districts to “balloon” levy. The Tax Cap, know as PTELL to the technocrats, has two parts. In the first, which is most widely known, tax districts like schools and county … Continue reading

Questioning MCC’s Assumption that New Construction Will Be Up 3.29% for 2013

In my article about the McHenry County College Board’s discussion on the proper size of next year’s property tax levy, I mentioned that I had sent an email to MCC Public Information Officer Christina Haggerty, asking the basic question that … Continue reading

MCC Levy Talk, College Sticks to Assumption that New Growth Will Be 3.29%

McHenry County College’s Chief Financial Officer Bob Tenuta presented some spreadsheets showing what would happen if the Trustees decided not to ask for the additional $224,000 in property taxes that the Tax Cap law allows. That’s the amount that a … Continue reading

Fight in the Offing about Whether to Hike MCC Property Taxes or Keep Them Flat

McHenry County College taxpayers might get a break next year. After MCC Chief Financial Officer Bob Tenuta gave his report on next year’s budget, discussion indicated that several new Board members are thinking about asking for the same amount from … Continue reading