With tax bills having arrived, it seems appropriate to call attention again to those McHenry County Board members who recommended to tax us to the max:
The Board members voted “balloon” levy, that is, they asked for more than they knew they could ever get to make sure they captured the full 1.5% increase allowed under the Real Estate Tax Cap law.
Plus all the new construction in the County.
I noted that the McHenry County Board’s tax take was 1.85% higher than last year and asked County Administrator Peter Austin why.
Here is his answer:
“Three main reasons:
- New Growth of $31,668,547 – Not capped in first year
- State of Illinois assigned a .017700 multiplier
- Valuations continue to decline, causing tax rates to artificially increase to maintain parity with tax revenues from the prior year.
“This is not unique to only the County’s rate. This is happening across all taxing bodies within the County also.
“I would recommend to any person questioning the “why” to view the County Clerk’s web site where all of the calculation formulas are displayed.”
The County and bunches of other tax districts have been pushed under the statutory maximum tax rate by the Property Tax Cap.
Because there is no meaningful rate limit, when tax districts ask for more money, as long as the figure in state law is with the inflationary increase allowed by the Tax Cap (which the technicians call PTELL), rates increase to make up for decreases in assessed valuation.