Kendall County residents will have a chance to voice their opinions on the county’s proposed tax rate, which remains unchanged from last year heading into the new budget season.
By a 4-1 vote the Kendall County Commissioners Court sent approval of the rate of $.3827 per $100 of taxable value to an Aug. 26 public hearing, since the rate is higher than the legislatively deemed “No New Revenue Tax Rate” for the county.
James Hudson, county tax assessor-collector, presented commissioners Monday with pertinent data before their vote to maintain the same tax rate as the current tax season: — The county’s adjusted taxable property value tops $8 billion again, at $8,639,369,351.
— The total new-improved taxable property hit $253.6 million ($253,690,076).
— The average taxable value of a home in Kendall County is $546,000.
The county’s no-new-revenue rate came in at 0.375425, below the county’s favored 0.3827 rate “because we’re getting more tax revenue,” Huson said, with higher property values.
The 0.375425 rate is what the county would have to adopt to see no new monies coming in because of higher home and property valuations.
The 0.3827 rate would produce nearly $41 million, at $40,956,492. If the county adopted the 0.3754 rate, Hudson said the county would lose out on about $800,000 in revenue.
Keeping the 0.3827 rate will mean an increase of $184 per year, $15 per month, for the average homeowner over the cost of the current year’s tax rate.
“The amount of money coming in from taxes is higher, but the tax rate is being proposed to stay the same,” Precinct 1 Commissioner Christina Bergmann said.
Precinct 2 Commissioner Andra Wisian asked Hudson if the $800,000 difference could be halved, to spare residents already facing higher mortgage rates and rents, grocery prices and utilities.
“What would be the detriment if we split the difference between the current rate of 0.3827 and the no-new-revenue rate of 0.375425,” Wisian said, asking the value of the 7/10ths difference.
“A penny is significant; a penny generates about $800,000 in revenue,” Hudson said.
“If we split the difference, we could be at .379. My thinking is, everybody’s hurting out there. Inflation’s out the roof,” Wisian said. “Something to give back to our citizens because $15 a month, a penny saved is a penny earned. What would be the detriment of going 0.379?”
Wisian’s fellow commissioners did not buy in to the reduced amount, which would cost the county a little more than $500,000.
“We were basing our decision this year on having a balanced budget next year,” County Judge Shane Stolarczyk said. “Keeping the tax rate the same would allow some growth when we add the new district court and the extra employees.”
Maintaining the 0.3827 rate ensures the county will have the funds to staff the new district court “and have the first balanced budget in decades,” he said.
He said holding the line would produce funds to meet additional or unexpected costs. “Once we start cutting, there’s unanticipated things that pop up,” Stolarczyk said. “Look at how many problems we’ve had with the law enforcement facility, having to replace air conditioners, house inmates in other areas.
“I’d love to lower taxes, but we’re not in a position to until we get this budget balanced,” he said. “It just gives us that little extra cushion for the things we know are coming down the pike.”
As costs escalate for its residents, the county finds its costs increasing as well, Bergmann said.
“In order to keep the level of service we do, for our citizens, that keeps us from having to go into fund balance if something happens,” she said.
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