Look for McHenry Co. tax rates to rise as property values decline

Take a look at the community college increases—McHenry County College is up only 2% but Harper and Elgin CC are up 20%

….economy that continues to hammer the housing industry. But another factor appears to be a growing number of property owners challenging their assessments and, far more often than not, winning.  Last year, the county's Board of Review heard a record 4,328 challenges and, Mayberry estimates, about 90 percent of them succeeded.

By levying the same or more, the taxing bodies force the county clerk to set a higher tax rate, allowing them to come up with the chosen amount amid declining assessed valuations.

Daily Herald | Look for McHenry Co. tax rates to rise as property values decline