McHenry County Budget with Tax Cut on 30-day Review
WOODSTOCK, Ill. – McHenry County has presented a draft 2020 budget that not only reduces its property tax levy for the third straight year, but also makes the reductions of the previous two fiscal years permanent.
Taxpayers stand to save $28 million over the three-year period had the levy remained at its 2016 amount.
The draft budget and levy, which are on 30-day review, are available for public viewing on the main page of McHenry County’s website at www.mchenrycountyil.gov.
The County Board, working collaboratively with Administration and department heads, has reduced its property tax levy by more than $18 million over the past two fiscal years – most of it through abating the money back to taxpayers to preserve the county’s taxation ability in the event of unforeseen circumstances. However, after three years of not having to undo the abatements because of the county’s solid financial footing and prudent fiscal management, the County Board directed county staff to make the reductions permanent.
“At a time in which more and more county residents are literally being taxed out of their homes by governments seeking to tax to the max, McHenry County government is leading by example. We’ve now significantly reduced taxes for three consecutive years, for a total of $28 million,” County Board Chairman Jack Franks, D-Marengo, said. “If we can do it, so can every other local unit of government in McHenry County. It’s time for them to follow our example and help us lower their levies and help keep people from being taxed out of their homes.”
The $218.1 million budget is balanced, and like previous years, does not cut or diminish any services.
The reduction of the tax levy does not guarantee that a taxpayer’s bill next year will not increase due to a higher property assessment or other local governments increasing their tax rates. County government accounts for slightly less than 10 percent of a McHenry County property owner’s tax bill.
The County Board will vote to ratify the budget and levy at its Nov. 19 meeting, which starts at 7 p.m. at the County Administration Building, 667 Ware Road, Woodstock. The county’s fiscal year begins Dec. 1.