Rickert: COVID-19 Has Impact on Property Tax Collections

Rickert: COVID-19 Has Impact on Property Tax Collections

Kane County property tax collections are down slightly from last year, according to a news release from Kane County Treasurer David J. Rickert.

“We are down seven basis points, which is seven hundredths of 1%,” Rickert said. “That may not sound like a lot, but it represents about $951,000 in property tax revenue.”

The exact figures are 53.11% that was collected by July 16, 2020, as opposed to 53.18% collected by July 16, 2019.

This year, Kane County is set to collect $1,359,241,801 in total for the taxing districts.

Rickert said he will present these findings to the Kane County Public Service Committee on July 23.

“I am deeply concerned that many people in the county are struggling to meet their financial obligations,” he said. “We need to do more to assist small businesses and non-profit organizations that have been hit especially hard by this pandemic.”

Earlier this year, Kane County was awarded $92.9 million in Cares Act funds by the Federal Government. The county will soon be making distributions, with county municipalities being first on the list to receive funds.

SOURCE: Kane County Treasurer’s Office news release