The Knox County Board approved the tax levy for the 2019/2020 tax levy at their Tuesday night meeting.
Board members approved a tax levy of $11,147,748, an increase of $310,491 or 2.94 percent. With that tax levy, the effective tax rate would be $1.32 — the same rate it was the year before.
The projected Equalized Assessed Value of the county is $844,000,000, up 24,500,000 from last year’s projection of $819,500,000.
That too is a 2.94 percent increase from the year before.
The biggest changes in the county’s levy were a decrease in the Illinois Municipal Retirement Fund and an increase in the Tort Levy, which nearly canceled each other out.
Several other funds saw small changes but overall had no change in the tax rate.
The county also approved a budget that had revenues of $64,444,903 and expenditures of $64,444,840, resulting in a small surplus of $63.
