McHENRY – McHenry City Council members unanimously approved setting the city’s levy and a date for a public hearing on the matter Monday night.
The city will levy about $4.6 million under approved plans, which means it is forgoing an allowable increase for its seventh year and keeping the levy flat.
About 6.4 percent of resident property taxes went toward the city of McHenry in 2016, with the rest going toward other taxing bodies, such as the county and McHenry School Districts 15 and 156.
Residents might not reap the benefits from the vote depending on what those other taxing bodies decide to levy. A public hearing on the levy will be held Dec. 4.
Estimated equalized assessed value rates are up 7.2 percent over 2016, including a little more than $2.3 million in new construction, according to city documents. The inflation rate for fiscal 2017 is 2.1 percent.
The state of Illinois is taking more revenue than usual from McHenry this year, including 10 percent of income tax and 10 percent of McHenry’s home rule sales tax revenue, which amounts to about $330,000, Finance Director Carolyn Lynch said.
The city reduced its levy by 3 percent last year.
Second Ward Alderman Andrew Glab said that he would have preferred to see the levy cut again, but he is satisfied with keeping it flat.
“I understand we have a lot of things to do and can’t keep cutting and cutting,” Glab said. “When we did cut it, we hoped others that are really impacting property taxes would have followed suit.”