Elburn to hold public hearing on tax levy
ELBURN—The village of Elburn will hold a public hearing on its tax levy request prior to the Village Board meeting on Monday, Dec. 2.
Although the amount the village is asking for, $824,000, is the same amount the village asked for the previous two years, it is more than 105 percent of what the village received last year.
After asking for a levy of $824,000 last year, the extension approved by Kane County was only $695,000, and Village President Dave Anderson said that the village is not even likely to receive that amount this time around.
Anderson said village officials ask for a higher levy amount because they know they are not going to receive the full amount from the county.
Property values have decreased significantly over the past five years, resulting in a 27 percent reduction in the village’s Equalized Assessed Value from what it was in 2008.
Trustee Bill Grabarek said that reduction is a demonstration of what “going over the fiscal cliff” meant.
“It’s 73.1 percent of what it was in 2008,” Grabarek said. “That’s how much property values and assessments have gone down.”
Anderson said that, during the same time period, there has been very little new construction to bring in more taxes to offset that amount.
“We still have to provide the same basic services and we’ve still got to pay the bills,” he said.
Anderson said the public hearing is for residents to comment and ask questions about the levy. The hearing is scheduled for Dec. 2 at 6:45 p.m. at Village Hall, 301 E. North St.