© 2023 WGLT
Play Live Radio
Next Up:
Available On Air Stations

Heartland Community College proposes tax rate decrease in 2023 levy

WGLT file photo

Heartland Community College will consider a $30.1 million property tax levy that’s expected to slightly decrease the tax rate.

The vote by the Heartland Board of Trustees will follow a public hearing that’s scheduled for the board’s regular monthly meeting on Tuesday at Heartland's Community Commons Building.

The levy would increase 6.7% over the current levy but takes advantage of a 7.5% increase in taxable land values across its district, which includes parts of McLean, DeWitt, Ford, Livingston, Logan and Tazewell counties.

The district projects a tax rate of $0.57466 per $100 assessed valuation. The rate would drop an estimated 0.5%. That would equate to less than $3 drop in the tax bill for the owner of a $165,000 home.

Many homeowners may still end up paying more because their properties have been reassessed at higher values due to an increase in market demand.

Trustees are also expected to approve issuing $12.75 million in bonds. College officials say the borrowing is intended to pay for new equipment for Heartland’s IT network, along with a new boiler and other maintenance needs.

We depend on your support to keep telling stories like this one. You – together with donors across the NPR Network – create a more informed public. Fact by fact, story by story. Please take a moment to donate now and fund the local news our community needs. Your support truly makes a difference.

Eric Stock is the News Director at WGLT. You can contact Eric at ejstoc1@ilstu.edu.
Related Content