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Village Council 2016 Tax Levy Public Hearing

The Village Council will hold a public hearing regarding the 2016 Tax Levy on Tuesday, December 6, 2016, at 7:00 p.m. in the Council Chambers at Village Hall.

The Village portion of the property tax levy is $12,794,984 after abatements. A typical residential property with a market value of approximately $300,000 will pay $598.31 in property taxes to the Village of Downers Grove.

Annually, the Village Council is required to levy taxes for the following:

1) Village Services defined as operations, capital, police and fire pensions and General Obligation Bond payments;

2) Library operating, and ;

3) all Special Services Areas.

For the sixth year in a row, there will be no increase to the property tax levy for operations and capital. The Fire and Police pension levies will increase by 9 percent. The Village's required funding level for pensions is set by state statute. The increase is related to lower ­than ­expected investment returns in the pension funds and the impact of a Government Accounting Standards Board (GASB) requirement that resulted in more conservative approaches to actuarial calculations.