BUDGET & TAX NEWS
Avon Township cut taxes by over 13% this year by using its
record surplus from last year. Since the Township is entirely
debt free, the Avon Township Board has choosen to pass these
savings directly to the taxpayers. Since 2009, Avon Township
has cut taxes by over 20%. To read more, click on the Press
Release tab under News.
ASSESSMENTS DOWN- WILL TAX BILL INCREASE?
What about my tax bill, when will it go down?" That is a
frequently asked question and the answer in all likelihood it will
not. Assessments are going down because of the decline in the
real estate market. Generally tax bills are going up as a
result of increased spending by taxing bodies such as schools,
villages and park districts. If government spending doesn't
go down, taxes won't go down either. Property taxes exist to
fund local government spending. If government's spending and the
"levy" requests do not decrease, most of us will not see relief.
In fact, Illinois law allows for increases in spending at the
rate of the Annual Consumer Price Index (CPI) or 5%, whichever is
less. For the tax bill you will receive in May 2012, the CPI
increase is 1.5%. This means spending and "levying" can
increase, so tax bills could rise by 1.5%, even though your
assessment was decreased.
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