Mt. Vernon Register-News

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November 16, 2012

County sends out real estate taxes

The state currently owes more than $452,019 in income tax receipts

MT. VERNON — — The county has sent taxing districts its second distribution of real estate taxes, according to County Treasurer Dan Knox.

“The second distribution of taxes to districts came to $14,316,908.87,” Knox reported to the county fiscal committee on Thursday. “We still have a third installment that will be disbursed, which will include interest which by law is required.”

Knox said the county will collect a total of about $33 million and has distributed $29 million. The annual tax sale receipts usually make up any shortfalls in tax collections and amounts levied by the taxing districts within the county.

Knox also reported the state is behind in its disbursements to the county in the local use tax for this month in the amount of $23,220.10; and is behind in disbursements of the income tax receipts since July.

According to reports issued by Knox, the state currently owes more than $452,019 in income tax receipts.

Knox said the state has caught up on its reimbursements to the county for the State’s Attorney salary, and is behind from September for the Public Defender salary to the tune of $16,000. The  county is also owed a probation reimbursement of $171,000.

Knox said as of Thursday, the general corporate working cash fund had a balance of $119,190 and monthly claims for approval at the regular county board meeting on Nov. 26 of $108,358.

The treasurer also reported he is looking into moving the public safety tax account to receive a better interest rate.

“I have given the current bank a month to come up with a better interest rate,” Knox said. “You will probably see some movement in the account based on quotes I receive from banks.”

At this time, the previous balance of the public safety tax account was at $1,883,036, with October interest of $419, for a general ledger balance of $1,883,455. Receipts for the tax received Nov. 14 were $92,893, making the current balance $1,976,348.

In other business the fiscal committee:

  • Will recommend to the full board to pay Illinois Association of County Board Members dues of $1,050; and
  • Will present tax levies for the 2012-13 fiscal year with a 4.99 percent increase — keeping the levy below the amount needed for a truth in taxation hearing.

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