McHenry County College Property Tax Increases Slightly

Among the numerous matters handled by the McHenry County College Board of Trustees at last evening’s meeting was the approval of a 9.9% tax levy. This is to account for potential new growth impact.

Based on the current property tax cap, the CPI growth of 1.5 and the County Equalized Assessed Valuation information, a homeowner can expect an increase of .0354 or $6 per year on a $300,000 valued home.

The new County Equalized Assessed Valuation information was not available at the time of the filing requiring the staff to anticipate a 9.9% levy in order to encompass any new construction. The actual tax rate will be determined by the County Clerk’s office based on the Equalized Assessed Valuation information along with the Consumer Price Index to reflect the 0.354 levy.

According to support documents for the levy filing, the College requires $26,248,427 to be levied for educational purposes.

An amount of $2,916,591 is to be levied for operations and maintenance purposes.