Proposed 2012 Tax Levy 'Relatively the Same' as 2011 Levy
City Council reviews proposed tax levy for 2012, and an abatement ordinance reducing the city's debt service levy.
Wheaton City Council Monday had its first reading of the proposed 2012 tax levy of about $23 million. The passing of a tax levy abatement ordinance would reduce the overall levy to about $18.7 million, down about .1 percent from last year's levy, costing taxpayers 98 cents per $100 of equalized assessed valuation (EAV). The amount due for a resident with a $400,000 house would be $1,307, the amount due for a resident with a $300,000 would be $980 and the amount due for a resident with a $200,000 house would be $653. About $15.3 million is levied for general purposes and $7.7 million for debt services. The proposed ordinance would abate $4.2 million of the debt service levy, reducing the debt service levy from $7.7 million to $3.4 million…
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