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Plainfield residents may have to dig a little deeper for tax bill

Madhu Mayer | 11/22/2016, 3 p.m.
Next spring when residents in the Village of Plainfield pay their first installment of the 2016 property tax bill, they ...

Next spring when residents in the Village of Plainfield pay their first installment of the 2016 property tax bill, they may have to reach a little deeper into their wallet.

The Plainfield Village Board Monday acknowledged the preliminary estimate of the 2016 tax levy, which shows that the overall equalized assessed valuation (EAV) is estimated to increase by 4 percent.

Tax levy revenue and rate projections are largely a product of the village's overall EAV. The EAV used in the property tax calculation averages the property owners assessed valuation over a three-year period. Rather than calculating the tax levy based on maintaining the same dollar levy amount, staff calculated the 2016 tax levy by attempting to maintain the same 2015 rate of .4669, according to Traci Pleckham, director of management services.

"It is important to point out that the village approves the annual tax levy based on dollars, not rate," said Pleckham. "The county clerk then calculates the tax rate needed to produce the amount of revenues requested by each district."

Because of this, Pleckham said, staff is using in its calculations a higher overall EAV. She explains a higher EAV estimate will ensure that Plainfield captures the entire amount of the village's EAV, while still maintaining the 2015 rate of .4669.

"The 2016 levy represents a total request of $6,139,600, however, the actual dollar amount the village will receive is anticipated to be less," added Pleckham. "Based on a 4 percent EAV increase, staff anticipates an overall increase of approximately $226,152 over the 2015 levy amount."

However, Pleckham said due to increased funding needs in the police pension account, the village's general fund will reflect a reduction of $33,149 in operating revenues.

In comparison of tax rates per $100 of assessed valuation, the tax rate in the 2015 levy for the Village of Plainfield was .4669; Plainfield Community Consolidated School District 202 was 6.2410; and the Plainfield Fire Protection District was 1.0036. This means 65.50 percent of the tax bill goes to District 202; 10.53 percent to the fire district; and 4.90 percent to the Village of Plainfield.