F
ord County's 2024 Property Tax Levy Sees Decrease in Rate Despite Increase in Collection Amount

    At their last meeting before the new year, Ford County Board members discussed the county's tax levy for 2024. Although the amount collected from real estate taxes is expected to increase by over 17%, the tax rate will actually decrease due to an estimated 18% rise in the county's equalized assessed valuation.

    Board member Chuck Aubry noted that this situation benefits both the county and its taxpayers, describing it as a "win-win." The tax rate is set to drop from $1.04 per $100 of assessed valuation to 84.3 cents, a reduction of 20 cents.

    A truth-in-taxation hearing will be held on December 10 at 6:30 p.m. in the sheriff's office and jail basement to discuss the levy. This hearing is required when a taxing body's levy calls for an increase of 5% or more in property taxes collected.

    According to the public notice, the county intends to levy $4.99 million in property taxes next summer, a 17.4% increase from this year's collection amount. However, corporate and special-purpose property taxes will see a significant decrease of 16.4%, from $354,297 to $296,000.

    Aubry emphasized that maintaining the corporate fund at its maximum allowed level is crucial for the county's services. He stated that when departments need additional funds, they often turn to the corporate fund, making it essential to keep a healthy balance.

    While the lowered tax rate will benefit residents, board members stressed that it does not necessarily mean lower tax bills overall. The decrease applies only to the county's portion of the bill and may be offset by increases from other taxing bodies such as school districts or library districts.

    Anyone interested in presenting testimony on the levy can contact County Clerk & Recorder Amy Frederick at 217-379-9400. The board will consider the levy for approval during their regular meeting following the hearing at 7 p.m.