Local News

IVCC portion of property taxes will remain flat

Owner of a $100,000 home could see about a 57-cent increase on their bill

Property taxpayers in the Illinois Valley Community College district should see their payments stay flat in the community college’s portion of their tax bills.

The IVCC board adopted the tentative $13.9 million 2021 tax levy, a 9.3% increase over last year’s $12.5 million levy.

The levy is based on a nearly 9% increase in the district’s eight-county combined equalized assessed valuation, said Vice President for Business Services and Finance Matt Seaton.

“This levy will keep the tax rate nearly flat for all district taxpayers,” Seaton said.

With the EAV increasing more than 5%, the board will hold a truth-in-taxation hearing at its Dec. 9 meeting “to access all funds available to the district,” Seaton said.

Homeowners will see a slight increase in IVCC’s portion of their property tax bill due to a .0018 cent increase. The owner of a $100,000 home, for example, will see a 57-cent increase.

The projected 2021 rate of .3588 is up slightly from the 2020 rate of .3557. A public notice will be published and a public hearing held prior to trustees moving for final approval Dec. 9.

IVCC levies taxes in all or parts of La Salle, Bureau, Putnam, Marshall, Lee, Livingston, Grundy and DeKalb counties.