Savoy levy increase higher than village expects to receive

SAVOY — The village is seeking a 49-percent increase in its property tax levy, but the village administrator said residents shouldn't worry.

Last year the village levied $1.63 million, a 9 percent increase over the previous year.

On Wednesday, the village board will vote on a property tax levy increase of $549,914. Because the requested levy increase is more than a 5 percent increase from last year, a truth-in-taxation hearing will be held at 7 p.m., before the village board meeting, during which residents will be allowed to speak about the levy.

Helton said the increase is done in anticipation of possible development, "so that down the road we can capture all the funding available to the village."

Helton said that in reality the village will probably have a 2 percent or 3 percent increase.

"Hopefully people will realize there might be a small increase, but it won't be that much," Helton said. "We don't know. We don't get that final number until spring, and here we are in December trying to put everything together."

Last year's increase ended up being about 3.5 percent, he said, and the village actually received "a little over a million dollars."

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Mr Dreamy wrote on December 13, 2013 at 5:12 pm

Well, well. "Capture all the funding available to the village" 

Just like the MTD, eh?

787 wrote on December 13, 2013 at 9:12 pm

Savoy doesn't spend $600,000 on a single top-of-the-line hybrid bus... just because it can.

Mr Dreamy wrote on December 14, 2013 at 8:12 pm

Savoy is going to tax as much as it can. How it spends the money isn't the point, it's capturing all the tax it can, just like the CUMTD, big government attitudes, big taxation, taking all it can.

Ralph wrote on December 20, 2013 at 12:12 pm

Every taxing body that is subject to tax caps raises their taxes as high as they can.  If they don't they lose the money forever.  You guys have not reading the paper carefully and see all the "black box" notices of public hearings.