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Board holds public hearing on proposed 2.91% tax-levy increase tied to CPI
Summary
At a special public hearing, the board discussed a proposed 2.91% tax levy set to match the Consumer Price Index. Trustees and a resident clarified that the village rebates residential taxpayers, noted schools take the largest share of property tax bills, and a motion was made to close the hearing; no recorded vote appears in the transcript.
At a special meeting on the tax levy, the board held a public hearing on a proposed 2.91% tax-levy increase tied to the Consumer Price Index.
Trustee Joel Geske, speaking from his finance experience, said the 2.91% figure ‘‘was, in line with the CPI index,’’ and described the change as preserving the village’s purchasing power rather than creating a net revenue windfall. Geske told the meeting the percentage is intended ‘‘just making next year's dollars the same equivalent of this year's dollars,’’ adding that skipping increases now can limit the amount the village can lawfully levy later.
The board and speakers emphasized the…
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