Madison County Proposes Tax Cut
EDWARDSVILLE — Officials will discuss a resolution on Wednesday to place a referendum on the ballot that would lower a portion of Madison County’s property tax levy.
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The Finance Committee will discuss the resolution that calls for a decrease in the General Fund maximum tax rate from .20 to .18 percent per $100 assessed valuation. If passed, the County Board will vote on the measure June 17.
This marks the second time in four years taxpayers will be given the opportunity to vote on a reduction in taxes. In 2016, a referendum to cut property taxes was placed on the ballot after citizens collected more than 10,000 signatures.
“This is the county’s way to help taxpayers,” Chairman Kurt Prenzler said. “This is a decision for the voters to make. We feel we are doing our part in county government with everything going on right now.”
It would save approximately $1 million per year.
Madison County is set to collect $450 million of property taxes this year; the portion for county government is $30.8 million. About two-thirds of property taxes goes to public schools and community colleges.
County Board member Tom McRae, and member of the Finance Committee, said that Madison County taxpayers should have the option to vote on reducing their tax burden.
“This is a way to put money back into the taxpayer’s pocketbook; it’s also what we can and should be doing,” McRae said.
RESOLUTION TO PLACE A BINDING REFERENDUM ON THE NOVEMBER 2020 GENERAL ELECTION BALLOT
WHEREAS, the tax rate utilized by the general fund in 2019 for Madison County government in the general fund is .163% of Equalized Assessed Valuation, under that maximum rate; and,
WHEREAS, the maximum tax rate of the general fund of Madison County is .20% of Equalized Assessed Valuation, as established by referendum in 2016; and,
WHEREAS, the Madison County Board believes that citizen initiative empowers taxpayers, and that taxpayers have the right to sustain the gains of a more efficient county government going forward; and,
WHEREAS, the Madison County Board is the Governing Body of Madison County, Illinois, and is the corporate authority of Madison County, Illinois; and,
WHEREAS, The Madison County Board has the statutory authority to submit a binding referendum to the voters under 35 ILCS 200/18-120 and 10 ILCS 5/28 28-2.
THEREFORE, BE IT RESOLVED, through the powers vested in and of itself, the Madison County Board directs the Madison County Clerk by this resolution to place the following binding referendum on the November 3, 2020 regular general election ballot, and the votes be recorded as “Yes” or “No”:
“Shall the maximum tax rate for general county purposes of Madison County, Illinois, be established at 0.18 percent of the equalized assessed value of the taxable property therein instead of 0.20 percent, the maximum rate otherwise applicable to the next taxes to be extended?”
(1) This change is proposed to reduce the funds available for general county purposes.
(2) The maximum levy extendable under the current rate is $10,718,535.26. The maximum levy extendable under the proposed rate would be $9,646,681.73.
(3) The approximate maximum allowable tax extendable on a single family home with a Fair Market Value of $100,000 is $66.67 under the current rate and would be $60.00 under the proposed tax rate.
Finance & Government Operations Committee
June 10, 2020
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