Fox Valley Park District residents will benefit from another tax freeze after the district’s Board of Trustees approved a zero-percent increase for the fourth consecutive year, according to a Monday FVPD press release.

While the district was allowed to levy an increase up to 1.5 percent plus new growth, Executive Director Nancy McCaul said, “we are choosing not to levy for the full amount out of consideration for our residents and the financial challenges many of us may be facing in this recovering economy.”

“Because of the district’s decision to levy a flat tax amount again, the average homeowner should not see an increase in the Fox Valley Park District portion of their tax bill,” said McCaul, “but that is dependent upon the change in their home’s assessed valuation that is determined by the township assessor.

“The total request for tax receipts for the Park District remains the same as the past four years.”

Board Treasurer Rachel Ossyra said the Park District has operated with great efficiency in balancing its services while continuing to grow.

“Being able to hold the line on taxes for four consecutive years is a testament to the excellent staff at the Park District and their diligence in meeting the needs of our 233,000 residents,” said Ossyra. “The Park District has strived to create workable solutions because nobody wants to see an increase in their property tax bill.

“We are committed to fiscal accountability and good stewardship of taxpayer dollars. Our staff will continue to explore feasible alternatives and collaborative efforts to ensure maximum efficiencies.”

The Park District’s levy of $22,063,996 does not necessarily reflect the amount of tax receipts that will be received by the District for next year. Final numbers from Kane, Kendall, DuPage and Will counties are expected in the spring.

McCaul said the actual amount collected may be lower due to the restrictions of the Tax Cap Limitation Act; the Consumer Price Index as determined by the state for this year’s levy is 1.5 percent.

“Based on preliminary information received from Kane County, we are estimating a reduction of 6.5 percent in the Equalized Assessed Valuation (EAV) for the existing property in our boundaries,” said McCaul.

SOURCE: Fox Valley Park District press release