Franks challenges McHenry County to make tax cuts permanent next fiscal year

WOODSTOCK – After having voted to reduce McHenry County’s property tax levy by about $18 million over the past two fiscal years, the County Board was issued a challenge Tuesday by Chairman Jack Franks.

Instead of issuing tax abatements, Franks recommended establishing permanent tax cuts this budget year.

“Homeowners and business owners deserve a tax cut,” Franks said. “We’ve reduced taxes two straight years with no problem and if we can do it for a third, then we plain don’t need the money and we can turn the abatements we’ve been doing into a permanent tax cut.”

In 2017, the County Board approved a budget with an 11.2% cut of its property tax levy. However, after property assessments came through and new property was added to the tax rolls, the reduction came out to about 9.55%.

Last year, the county adopted a spending plan with $9.8 million in tax cuts. Of that amount, $7.53 million comes from abatements and $2.3 million comes from permanent reductions in the county’s property tax levy.

Click here to read the entire story.