Under the Property Tax Cap, a non-Home Rule Unit (think municipalities over 25,000 people like Chicago, Crystal Lake and McHenry, plus municipalities who have approved Home Rule by referendum vote lie Barrington Hills) may not raise its tax levy by more than the increase in the cost of living.
This year the inflation rate of 7/10 of 1% governs school district, park districts, non-Home Rule municipalities, etc.
So, when I read that the Village of Union was proposing to raise its tax bill 15%, it made no sense.
State law will not allow more than a 7/10 of 1% tax hike.
About the only folks to win by Union’s passing this ordinance work at the Northwest Herald, because a village has to publish the big black box you see here, if its board asks for more than a 5% increase.
The Village asked for $77,698.82 this year.
According to the ad, it is asking for $89,353.43 next year.
It is likely to get an extra $500, plus change.
I wonder how much the ad cost.
Coincidentally, the ad listing all Coral Township assessments for next year was published in the NWH yesterday.
Folks have 30 days to appeal their assessments.
Coral Township homeowners can find their assessment here.