OGLESBY – Illinois Valley Community College’s board adopted a tentative $14.3 million 2022 tax levy last week, a 6.4% increase over last year’s actual extension of $13.5 million. The levy is based on a 7.5% increase in the district’s eight-county combined equalized assessed valuation that is due largely to a recently negotiated agreement with Constellation’s LaSalle Power Station. That agreement will result in nearly $1.2 million in new revenue for the college over the next five years. Taxpayers in LaSalle, Bureau and Putnam counties – as well as smaller parts of Marshall, Lee, Livingston, Grundy and DeKalb counties – should not see an increase in their IVCC taxes.
With the total levy increasing more than 5%, IVCC will hold a Truth-in-Taxation hearing prior to final approval Dec. 10.
“This levy will result in a decrease of .005 cents in the tax rate,” said Vice President for Business Services and Finance Matt Seaton. “The average $100,000 home will realize a decrease of approximately $1.65 in taxes.”
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