Politics & Government

Villagers May Soon See a $114 Increase in Their Property Taxes

The village's Board of Trustees approved the first reading of a 2011 tax levy increase on Tuesday that would increase residents' property tax bills next year.

Residents will see an increase of up to $114 on their village property tax bills next year if the board approves a final reading later this month on a 1.5 boost in the year's tax levy.

The approved this week the first reading of the increase in the 2011 tax levy, according to a story by Triblocal. It states that if the motion gets the board's final approval on Dec. 20, that residents can expect to pay between $54 and $114 more on their tax bills.

The property tax revenue request of $18.8 million was an increase of about $280,000 in revenue from the year before.

Find out what's happening in Tinley Parkwith free, real-time updates from Patch.

"The projected tax rate will be 1.128 for every $100 of equalized assessed value, up from 1.024," the story says

It also states that the 2011 levy for the will remain at its current $5.6 million. However, the library’s projected tax rate is .333 — up from the .317 rate in 2010.

Find out what's happening in Tinley Parkwith free, real-time updates from Patch.

"The total equalized assessed valuation for the village and library taxing district is expected to decline by about $144 million from last year …" according to the story. "The decrease in the EAV means there is a smaller tax base against which to split the village and library levy requests."

Village Treasurer Brad Bettenhausen said during Tuesday's board meeting that he estimates taxpayers will pay $8 to $18 more on their library tax bills in 2012 because of the EAV decrease, the story states.

Check in with Tinley Park Patch following Dec. 20 to see the final vote.

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