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No property tax increase

Madhu Mayer | 12/5/2018, 2:06 p.m.
news@thetimesweekly.com The Plainfield Village Board is taking steps to make sure residents will not see an increase on their 2018 ...

news@thetimesweekly.com

The Plainfield Village Board is taking steps to make sure residents will not see an increase on their 2018 property taxes.

The board Monday adopted an ordinance levying and collecting taxes that maintains the 2017 overall levy rate of .4669. Based on preliminary equalized assessed valuation (EAV) estimates, the ordinance reflects a total property tax request of $6,606,400 according to Traci Pleckham, director of management services. However, the actual dollar amount the village will receive is anticipated to be less. The levy will not be finalized until March of next year. During a committee of a whole workshop in October, the consensus of the village board was to maintain the 2016 overall levy rate of .4669.

The equalized assessed value, or EAV, is the result of applying the state equalization factor to the assessed value of a parcel of property. Tax bills are calculated by multiplying the EAV (after any deductions for homesteads) by the tax rate.

The Village of Plainfield's portion of the 2017 tax levy was 5.26 percent, or for every dollar paid in property taxes by village residents, 5.26 cents is paid to the Village of Plainfield.

When a Plainfield resident opens up their tax bill, majority of the money is going toward Plainfield Community Consolidated School District 202. Other governmental bodies that serve Plainfield residents also get its share of the money from the tax bill, including Plainfield Fire Protection District and Plainfield Public Library District.