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Notice of Proposed Property Tax Increase

 

I. A public hearing to approve a proposed property tax levy increase for the Village of Downers Grove for 2010 will be held on the 7th day of December 2010, at 7:00 p.m. in the Village Council Chambers, Downers Grove Village Hall, 801 Burlington Avenue, Downers Grove, Illinois 60515. Any person desiring to appear at the public hearing and present testimony to the taxing district may contact Ms. Judy Buttny, Village Treasurer, 801 Burlington Avenue, Downers Grove, Illinois 60515.

II. The corporate and special purpose property taxes extended or abated for the preceding year, 2009, were $16,868,392. The proposed corporate and special purpose property taxes to be levied for 2010 are $17,656,198. This represents a 4.67% increase over the previous year.

III. The property taxes extended for debt service for 2009 were $665,506. The estimated property taxes to be levied for debt service for 2010 are $8,517,167. This represents a 1,179.80% increase over the previous year. Consistent with previous years, staff was directed to prepare ordinances abating $7,861,827 of the 2010 amount for a levy of $655,340 which represents a decrease of 1.53% over the previous year.

IV. The total property taxes extended or abated for 2009 were $17,533,898.  The estimated total property taxes to be levied for 2010 are $26,173,365.  This represents a 49.27% increase over the previous year.  Including the debt service abatements, the actual levy for 2010 will be $18,311,538 which represents an increase of 4.44% over the previous year.