FRG will not take inflation rate on levy
FOX RIVER GROVE – The Fox River Grove Village Board on Thursday passed its tax levy request of $835,566, choosing to extend its levy only by new construction and not taking the inflation rate.
The village could have increased its levy by the rate of inflation under tax cap law, but it chose not to. By not taking the Consumer Price Index, which is 3 percent, the village loses out on $37,000.
If the village had taken the full amount allowed under the law, it would have meant an owner of a $250,000 house would have paid about $13 more next year to the village.
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