Bourbonnais’ tax levy set to decrease, again

BOURBONNAIS — Bourbonnais trustees have been able to lower their tax levy since at least 2014.

They are keeping that streak alive as the tax levy for the 2024 property tax bill is lower than 2023s

Trustees heard the first of two readings on the tax levy ordinance to set Fiscal Year 2025′s rate at .4314%. That will give the village a tax levy of $2.1 million.

FY 2024′s rate was .4436%, netted a tax levy of $1.92 million. The rate would be in effect for tax bills received by residents in May 2025.

The second reading of the tax levy ordinance will be at the board’s Dec. 2 meeting at 5:30 p.m. in the board room at the Municipal Center. A Public hearing on the tax levy is scheduled for 5:15 p.m.

Earlier this month, trustees discussed the FY 2025 tax levy presented to them by Finance Director Tara Latz during a finance committee meeting.

“I was talking to Tara about this. We’ve been fortunate enough to lower taxes each year for at least the past 10 years,” Trustee Rick Fischer said. He is also the chairman of the finance committee.

All six trustees were in agreement at that meeting to move forward with setting FY 2025′s rate at .4314%.

Since the rate has decreased since last year, homeowners could see a decrease of anywhere between $8 to $28 on the village’s portion of their property tax bill, assuming their home’s assessed value has not changed much.

Though the village will collect more taxes next year on the whole, if a homeowner’s property value stays the same as last year, their contribution to the village’s property taxes will decrease slightly.

The increase in the total amount collected is a factor of the Equalized Assessed Value, officials said. That value is the result of a process of applying increases and decreases to assessed values throughout the village to create a total property value.

The village’s portion of a resident’s property tax bill amounts to about 5%, according to officials.

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