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.
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.