ELGIN – The Elgin Community College District 509 Board this week approved a $55.5 million levy for 2013, a 1 percent increase compared to last year’s request of $55 million, officials said.
The increase will raise property taxes on a house valued at $250,000 by $21, said Sharon Konny, the college’s treasurer.
Taxing bodies in Illinois make their levy requests to the county based on what they need and the equalized assessed value of property within the district. The board acted to accept the levy in a 6-0 vote with one absent after a levy hearing.
The college could have levied a maximum of 1.7 percent, the consumer price index, but Konny said levying to the max was not necessary.
“We have a calculation we go through that helps us determine what our levy is,” Konny said. “The purpose of levying more than what we collect is to make sure we are capturing enough, primarily from new property that comes on the tax rolls. There is not a lot of new property coming on the rolls. We feel a 1-percent increase … will levy to our full authority under the tax cap.”
The college district covers 360-square miles over five counties and 33 municipalities, including St. Charles. Its equalized assessed valuation is $10.6 billion. Of that, $60 million is from new construction, Konny said.
The slight increase to taxpayers reflects what a cost-effective value Elgin Community College is, Konny said.
“Any community college offers such exceptional value to residents, as well as a great education,” Konny said. “I personally am the product of a community college. That is where I started.”