Twin Lakes total village tax levy will increase 4.4 percent for 2016.
The budget that includes the levy was approved unanimously Monday night by the Village Board, with Trustee Kevin Fitzgerald absent.
The total 2016 tax levy for village and library is $3,601,133. The total tax levy in 2015 was $3,449,984.
Village administrator Jennifer Frederick explained a 1.3 percent increase in the village’s assessed value due to revaluation allowed a tax levy increase without changing the tax rate. The Village Board opted to increase the levy to start a street resurfacing program. Board members have been expressing a need to do so for years in order to keep up with expensive road maintenance.
What will happen with your tax bill depends on what happened to your property’s assessed value. The tax rate in 2015 was $4.9952 per $1,000 of assessed value. The tax rate for 2015 will be $5.1454.
No member of the public addressed the board at Monday’s public hearing on the 2016 budget.
