McCULLOM LAKE – Most McCullom Lake residents can expect to see their village property taxes go up 3 percent next year.
The Village Board unanimously passed a levy that seeks $183,600, about $2,000 more than last year, Village Treasurer Jeanne Hansen said. The levy includes an amount to pay off a 2001 bond acquired to connect to the city of McHenry’s sewer system. Taxpayer’s will not see an increase on that portion of their property tax bill.
The increase will go to cover higher operating expenses, which are across the board, Hansen said. She cited fuel and employee-related expenses.
The request is a slightly more than what the village is allowed under the tax cap law, and Hansen said the village doesn’t expect to get everything it asked for, especially because the tax base has been shrinking.
“We don’t ever get what we levy,” she said. “I don’t think any municipality does.”
But some taxing bodies will this year because they’ve chose to keep their levies level, meaning they’re not asking for more money. Some are covering any shortfall with savings.
The tax cap was enacted in 1991 to keep property taxes in check by tying them to the rate of inflation unless voters approve of a larger increase.
Governments can capture additional tax revenue through new construction and improvements, but McCullom Lake expects to see little, if any, of that.