Sugar Grove Village approves 2012-13 tax levy
By Keith Beebe
on December 9, 2011
by Keith Beebe
SUGAR GROVE—The Sugar Grove Village Board on Tuesday voted 6-0 to approve the tax levy for the 2012-13 fiscal year.
According to Finance Director Justin Vanvooren, the village will levy for $2,409,640, which is a 75 percent increase from last year’s tax extension of $1,376,937; however, the village expects to only receive about $1,402,000 from the county, resulting in an increase of roughly $25,000 from the previous tax extension. Because of a tax cap of 1.5 percent, the village can only increase last year’s tax extension by $20,654, with an additional amount of between $4,000-5,000 coming in from new construction.
When divided up among every housing unit in the village, that rough estimate of $25,000 translates to an increase of about $5 to $7 per household.
“That does not take into account changes in the EAV (equalization assessed valuation)—up or down—or governmental bodies. That’s just for the village,” Vanvooren said. “(The tax cap) does not include new houses or new commercial buildings that are built during the year or in construction, so that’s why we add on that additional amount beyond the 1.5 percent—to make sure that we catch that money.