BOURBONNAIS — For the second straight year, most Bourbonnais residents will not see an increase in their property tax bill from the village.
At Monday’s trustees’ meeting, the first reading took place for the ordinance setting its tax levy rate for fiscal year 2020-21.
Finance Director Tara Latz said the village is requesting the tax rate remain .4950 on a resident’s tax bill they will receive in May 2021.
“There will be no increase to taxpayers,” Latz said.
If a homeowner’s property value stays the same as last year, their contribution to the village’s property taxes will stay the same.
It marks the third straight year the village has requested a tax levy rate of .4950.
The Equalized Assessed Value continues to grow in the village. This number is the result of a process applying increases and decreases to assessed values in a jurisdiction area to create a total property value.
“What benefits us is that the village continues to grow,” Latz explained. “We hope it continues to grow.”
Because of the increase in its EVA, the village will collect $1,801,946 for the 2020 levy compared to $1,741,543 for 2019.
The board will vote on adopting the ordinance at its Dec. 7 meeting.