Property owners face potentially higher tax increases next year
If you haven’t already paid, the second and final installment of property taxes is due Tuesday.
Before you breathe a sigh of relief, assessments are starting to be published to determine how much you’ll pay in 2013. And if you didn’t know, the inflationary rate our taxing bodies can capture next year is double what it was on this year’s bills.
The rate of inflation for next year’s bills is 3 percent, according to the Illinois Department of Revenue.
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