Cary tax levy to rise slightly
CARY – A year after limiting how much it brought in property tax revenue, the village has opted for a slight increase this year in its property tax levy.
The Village Board on Tuesday approved a property tax levy of $2.45 million, which is 2.99 percent higher than last year. The village expects to bring in $71,200 more with the levy. However, $57,600 of the increase will go toward police pension obligations.
Because Cary is a non-home rule municipality, it can extend its levy up to 5 percent from the previous year or the rate of inflation, whichever is lower.
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