Proposed tax levy limited by state cap

By on November 6, 2009

Homeowners’ village property taxes may be lower
by Martha Quetsch
MAPLE PARK—Homeowners could see a slight drop in the village portion of their property tax bills in May, even though assessed valuations have risen 6.14 percent.

The Maple Park Village Board approved a proposed 2009 property tax levy on Tuesday totaling just $2,944 more than village property taxes in 2008.

The proposed levy, which village officials will submit to the county, is $276,887 compared to $273,943 in total village property taxes for 2008.

Under the property tax cap, that 1.1 percent increase is all the state will allow for 2009, based on the Consumer Price Index.

“Unfortunately, this is just the state of affairs,” trustee Mark Delaney said Tuesday. “It just emphasizes that things are tight for the village.”

Higher assessed valuations and the low levy hike will lead to a decrease in the village tax rate, Village Accountant David Jepson said. The village tax rate determines the amount each homeowner must pay in village taxes.

For 2008, the village tax rate was 78 cents per $100 of assessed valuation. For 2009, Jepson estimates that the rate will be 73 cents.
That rate decrease translates into a $498 village property tax bill for a home assessed at $68,458 in 2009, Jepson said. That same home would have been assessed at $64,500 in 2008, and its owner would have been billed $500 in village property taxes.

The total property tax bill for a homeowner includes not only the village portion, but school district and township taxes, as well.

A few dollars less
The village portion of the 2008 property tax bill for a home assessed at $68,458 in 2009 will be approximately $498. That same home would have been assessed at $64,500 in 2008, and its owner would have been billed $500 in
village property taxes.

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