ECC's property tax request to remain flat
Elgin Community College plans to request $56.1 million in property taxes this year, a mere 0.8 percent increase from the $55.6 million requested in 2008.
The state tax cap ties levy increases to the rate of inflation or 5 percent, whichever is lower, plus any new properties that come on the tax rolls.
In the midst an economic downturn, where there is little to no building going on, and the inflation rate standing at just 0.1 percent - the college likely won't receive the full bump it's requesting.
Because property values and tax rates will be set next spring in DeKalb, DuPage, Kane and McHenry counties, and next fall in Cook County, the college can't yet estimate how much it expects to collect.
Officials can surmise, however, that any increase will be minimal.
The new request asks for $50.2 million in property taxes for general purposes, plus an additional $5.9 million to pay off debt.
Only slight increases were seen across three of the college's five funds.
The educational purposes fund would grow by just $140,000 to $35.9 million. Liability, insurance, workers' compensation, unemployment insurance and property insurance fund would increase by $100,000, to $1.8 million. The audit fund would increase by $10,000 to $80,000.
The operations and maintenance would shrink from $11.9 million to $11.8 million. Social security would remain flat at $600,000.
Vice President of Business and Finance Sharon Konny said the college doesn't anticipate cutbacks in the lean budget year ahead.
Instead, she said, "we're trying to maintain the status quo."
A hearing on the levy will take place at 7 p.m. Dec. 8 at ECC's Siegle Auditorium, 1700 Spartan Drive, Elgin.