Tax rate lowered for 6th consecutive year
JOLIET – The Will County Board has approved a balanced budget of $567 million for the upcoming fiscal year that contains no new taxes and continues to provide essential services to taxpayers. The board has lowered the tax rate for the sixth year in a row. The 2020 tax rate will be 0.5769% which is lower than the 2019 tax rate of 0.5842%. The Will County Budget funds services ranging from road and infrastructure improvements, to public safety, and public health.
“It is vital that the county continues to meet the needs of our residents, especially during these uncertain times,” said County Board Finance Chair Ken Harris (D-Bolingbrook). “This budget meets those needs.”
“It is vital that the county continues to meet the needs of our residents, especially during these uncertain times,” said County Board Finance Chair Ken Harris (D-Bolingbrook). “This budget meets those needs.”
Harris said that the county budget includes funding for a significant flood study that will be conducted in partnership with the US Army Corps of Engineers. The budget also includes funds for a diversity study meant to ensure that the county meets its obligations for hiring minority contractors when using local motor fuel taxes.
This year, the county has again funded a five year road and capital plan. Also included is $10 million in funding for the remainder of the Building Will Plan which was launched in 2016.
Will County Republicans would have liked to see more relief for taxpayers in the budget. County Board Minority Leader Mike Fricilone (R-Homer Glen) said that the county could have tightened its belt a little more.
“Many of our residents and small businesses are struggling during the pandemic,” said Fricilone. “Will County was in a position to lower the tax burden and continue to provide top-notch services. It is our obligation to keep taxes low and I think we could have reduced the levy further.”
Will County continues to maintain its AA+ bond ratings from Moody’s and Standard & Poor’s. This is due to the county’s diverse tax base, stable financial performance, and strong reserves and liquidity.
“Will County continues to be a place where businesses locate and where people want to live and work,” said County Board Speaker Mimi Cowan (D-Naperville). “I’m grateful to all of the hard work that our staff and county board members put forward to develop a balanced budget that works for residents and businesses.”
This year, the county has again funded a five year road and capital plan. Also included is $10 million in funding for the remainder of the Building Will Plan which was launched in 2016.
Will County Republicans would have liked to see more relief for taxpayers in the budget. County Board Minority Leader Mike Fricilone (R-Homer Glen) said that the county could have tightened its belt a little more.
“Many of our residents and small businesses are struggling during the pandemic,” said Fricilone. “Will County was in a position to lower the tax burden and continue to provide top-notch services. It is our obligation to keep taxes low and I think we could have reduced the levy further.”
Will County continues to maintain its AA+ bond ratings from Moody’s and Standard & Poor’s. This is due to the county’s diverse tax base, stable financial performance, and strong reserves and liquidity.
“Will County continues to be a place where businesses locate and where people want to live and work,” said County Board Speaker Mimi Cowan (D-Naperville). “I’m grateful to all of the hard work that our staff and county board members put forward to develop a balanced budget that works for residents and businesses.”
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