Volo limits levy increase to 3 percent
VOLO – The village is not constrained by the state tax cap law but plans to follow its guidelines, adjusting its property tax levy to a 3 percent increase on last year’s tax base, Village President Burnell Russell said.
The tax cap limits villages, school districts other tax bodies to an annual increase of 5 percent or the rate of inflation, whichever is less, plus money that new growth generates. The inflation rate, based on the Consumer Price Index, was set at 3 percent.
Volo is a home-rule community, which exempts it from the tax cap law.
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