Tuesday, April 13, 2010

Look for McHenry Co. tax rates to rise as property values decline

Take a look at the community college increases—McHenry County College is up only 2% but Harper and Elgin CC are up 20%

….economy that continues to hammer the housing industry. But another factor appears to be a growing number of property owners challenging their assessments and, far more often than not, winning.  Last year, the county's Board of Review heard a record 4,328 challenges and, Mayberry estimates, about 90 percent of them succeeded.

By levying the same or more, the taxing bodies force the county clerk to set a higher tax rate, allowing them to come up with the chosen amount amid declining assessed valuations.

For the next seven days you may click on the following for to read the entire story:  Daily Herald | Look for McHenry Co. tax rates to rise as property values decline

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