FY2017 Budget Sees Lower Tax Rate For Residents
November 8, 2016
– The Village of Carpentersville’s FY2017 General Fund Budget is $30,612,603. One of the highlights of the FY2017 Budget is the continued spending on infrastructure improvement projects to make Carpentersville a beautiful and sustainable place to work and live.
“The Village continues to provide excellent services from all of our departments at minimum financial output by carefully monitoring every expense, while striving for maximum efficiency by every staff member,” said Village President Ed Ritter. “Our goals remain courtesy, service, and efficiency."
The overall tax levy will increase by $166,341 (1.28%). However, the Village’s portion of the estimated total tax rate will decrease by 12%, for a tax rate of 2.58% compared to last year’s 2.93%. This decrease is primarily the result of the increase in the Village’s EAV (Equalized Assessed Value). As the EAV rises, the corresponding tax rate can be lowered and still achieve the same tax levy dollars as the year before.
See attached press release for full story.