Fox Valley Park District board OKs tax freeze

Submitted by Fox Valley Park District

Fox Valley Park District residents will benefit from another tax freeze after the district’s board of trustees approved a zero-percent increase for the third consecutive year.

While the district was allowed to levy an increase up to 1.7 percent, plus new growth, Executive Director Nancy McCaul said, “We are choosing not to levy for the full amount out of consideration for our residents and the financial challenges many of us may be facing in this recovering economy.

“Because of the district’s decision to levy a flat tax amount again, the average homeowner can expect a $12.43 decrease in their Fox Valley Park District tax bill,” said McCaul.

“The park district did not capture the available property taxes from the expiring Tax Increment Financing (TIF) district that includes the Chicago Premium Outlet Mall.”

Board President Rachel Ossyra said the park district will continue to implement its repair and replacement schedules, albeit at a somewhat slower pace.

“As always, we strive to operate with great efficiency in all our operations,” Ossyra said.

“As we continue to grow to meet the needs of our 233,000 residents, we make difficult choices on how to balance service offerings,” added Ossyra. “We are committed to fiscal accountability and good stewardship of taxpayer dollars. Our staff will continue to explore feasible alternatives and collaborative efforts to ensure maximum efficiencies.”

The park district’s levy of $22,063,996 does not necessarily reflect the amount of tax receipts that will be received by the district for next year. Final numbers from Kane, Kendall, DuPage and Will counties are expected in the spring.

McCaul said the actual amount collected may be lower due to the restrictions of the Tax Cap Limitation Act; the Consumer Price Index as determined by the state for this year’s levy is 1.7 percent.

“Based on preliminary information received from Kane County, we are estimating a reduction of 8.14 percent in the Equalized Assessed Valuation for the existing property in our boundaries, not including the addition of the expiring TIF,” McCaul said.

The Fox Valley Park District is a dynamic and growing park district that serves a diverse population of more than 233,000 people. Recognized as an Illinois Distinguished Agency, Fox Valley holds the nation’s highest honor as a National Gold Medal Award winner for excellence in park and recreation management.

Serving the communities of Aurora, Montgomery and North Aurora, the District maintains 164 parks and 45 miles of interconnected regional trails amid 2,500 acres of parkland.