While some governments typically seek every tax dollar available through property tax levies, Huntley is considering doing the opposite by freezing its levy for the upcoming year.
Huntley’s village staff is recommending freezing the levy, keeping it the same as this year’s amount. This year, the village collected $3.8 million in property taxes through its levy.
Village staff was looking for a policy direction last week from the board.
If the tax levy were frozen, it would result in a permanent $48,652 loss of revenue, financial officer Jennifer Chernak said.
The proposed 2012 budget has no increase of the levy amount, she said.
“I think in this economy, it’s good public relations and it’s good for the residents,” Mayor Charles Sass said.
Just because Huntley won’t be increasing its tax levy, it doesn’t guarantee taxpayers will see smaller tax bills. McHenry and Kane counties’ clerks will set the levies next spring. Huntley falls within both jurisdictions.
Last year, assessed valuations varied between the two counties with McHenry County homeowners seeing a reduction in the assessed valuations while Kane County homeowners saw significant increases.
Kane County is working on an appropriation measure that would help equalized assessed valuations, officials said.
The will make a decision on the levy at its Dec. 8 meeting.