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Maywood board advances 2015 real estate tax levy for final vote after public hearing
Summary
At a Dec. 1 public hearing, Village of Maywood staff recommended a levy that raises the corporate fund by about 3% largely to cover pension actuarial increases; the Board voted to place an ordinance for final approval on Dec. 15.
Mayor Edwenna Perkins and the Village of Maywood Board of Trustees convened a public hearing Dec. 1 to consider the village's proposed 2015 real estate tax levy, during which Finance Director Lanya Satchell said the recommended levy would raise the Corporate Fund by about 3% and include a $268,000 net increase driven mainly by contractual obligations and pension funding needs.
Satchell told the board that the Fire Pension contribution showed an increase of about $600,000 but that recent bond refinancing savings offset a portion of that rise. "The largest increase of about $600,000 in the Fire Pension is being offset by the savings in the refinancing of the bonds," she said. She also said the Recreation Fund would remain unchanged and that the…
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