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Proposed 1.16% levy increase would set village tax rate at $4.21 per $1,000
Summary
The presenter said the proposed tax levy would raise $381,000, producing a tax rate of $4.21 per $1,000 of equalized value; presenter stated the increase is about 1.16%, under the state-mandated cap.
The presenter told the board that the proposed tax levy for the coming fiscal year would total $381,000 and, given an equalized total assessed value of $90,464,405 for village properties, "that works out to a tax rate of $4.21 per, $1,000 of equalized, property value."
He also said the levy increase would be roughly 1.16% and is below the state's statutory cap (the presenter referred to the cap as a 2% maximum). No public comments on the levy were received prior to the hearing.
