Lake Land College Board approves tax levy, keeping tuition costs low
The Lake Land College Board of Trustees approved the 2012 Tax Levy for $9.42 million. The actual rate of levy for 2012 will not be known until late spring when the estimated assessed value for each of the 15 counties within the Lake Land College district is determined.
A breakdown of the tax levy applied to property taxes for next year includes: $4.2 million for educational purposes; $775,500 for operations and maintenance; $1.8 million for additional educational and operations and maintenance; $1.1 million for tort immunity; $318,000 for Social Security and Medicare insurance; $107,000 for financial audit purposes; and $1.1 million for protection, health and safety purposes.
“For the individual taxpayer, Lake Land’s tax is approximately five percent of the total bill and reflects the low overall tax rate per $100 in equalized assessed value that Lake Land has,” said Ray Rieck, vice president for business services. “The overall goal for the college is to maintain a low tax rate for the citizens of the district in addition to providing an affordable, quality education to district residents.”
The college has accomplished keeping tuition low in a number of ways. Most recently, through the college’s sustainability efforts, which include installing a geothermal loop, wind turbines, solar panels and practicing sustainable building practices, the college has already experienced savings beyond projections. Since 2008, the college has not only saved 400 tons of carbon dioxide per year, but it is saving approximately $300,000 a year in utility costs.
“Even with the financial crisis within the state of Illinois, Lake Land works very hard to ensure an affordable education for all students within our district,” said Scott Lensink, president of the college.
At $3,114, Lake Land’s annual tuition and fees are about one-third of EIU’s, estimated at $10,000, and one-fifth of the U of I’s, estimated at $14,000 a year.
To learn more about Lake Land College, visit www.lakelandcollege.edu.