OGLESBY- The Illinois Valley Community College board adopted a tentative $13.9 million 2021 tax levy, a 9.3 percent increase over last year’s $12.5 million levy.
They say the levy is based on a nearly 9 percent increase in the district’s eight-county combined equalized assessed valuation.
“This levy will keep the tax rate nearly flat for all district tax payers,” Vice President for Business Services and Finance Matt Seaton said.
With the EAV increasing more than 5 percent, the board will hold a truth-in-taxation hearing at its Dec. 9 meeting “to access all funds available to the district,” Seaton noted.
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, would see a 57-cent increase.
The projected 2021 rate of .3588 is up slightly from the 2020 rate of .3557.
IVCC levies taxes in all or parts of La Salle, Bureau, Putnam, Marshall, Lee, Livingston, Grundy and DeKalb counties.