New growth, inflation prompt Algonquin library tax levy hike

The Algonquin Area Public Library District is raising its property tax levy by 15.5 percent to accommodate commercial and residential growth.

The hike includes a Consumer Price Index increase of 2.1 percent, while also accounting for redevelopment and new construction, Executive Director Sara Murray said. The additional funds would allow the library to keep up with the rate of inflation and satisfy a growing demand for its programs and services.

The 2017 levy, approved by the library board in a 5-1 vote, seeks $7.2 million next year, though Murray stressed this is only the amount requested by the library district. The amount collected could come in lower, she said, because state law limits the increase taxpayers will actually see on their bills.

This past year, for example, the district collected $6.2 million in property taxes, or about 97 percent of its initial request.

"The bulk of the increase (for 2017) is based on the expectation that there is new growth in the district," Murray said. "It's not placed on taxpayers already paying taxes."

The equalized assessed valuation in the district is projected to rise to about $1.1 billion - a roughly 8 percent increase over the previous year, some of which can be attributed to new residences and businesses, Murray said. The library has already seen effects of that growth, she said, pointing to a partnership with residents of the new Clarendale of Algonquin senior living community.

Program attendance has also been steadily increasing, Murray said, and patrons are regularly requesting new and different services. To help meet those needs, the library is in the midst of a $6.7 million expansion and renovation, much of which is being funded through reserves. The district is borrowing about $2.1 million, to be paid off over 10 years, to fund the remainder of the project.

More than 90 percent of the library's budget is funded by property taxes, Murray said. The district's levy makes up 5 to 6 percent of an average resident's tax bill.

"Our community is very supportive of the library," she said. "We want to continue to provide the best quality programs and services that we can."