Tax increase for 'Elk Grove 2025' lowers after funding changes

Elk Grove Village residents will have a smaller increase in taxes after officials changed funding plans for a $110 million infrastructure overhaul.

Initially, the village considered issuing bonds to help with the funding, with cost to the average taxpayer an additional $96.20 per year.

But higher-than-expected revenue from the electric utility tax, spurred by a low vacancy rate in the village's industrial park, will fund a $60 million bond issue, Mayor Craig Johnson said.

This means the average resident's taxes will increase about $20 per year due to increases in the natural gas use and telecommunication taxes.

The village is also seeking grant funding to help pay for projects.

The infrastructure plan called "Elk Grove 2025" will include two new fire stations, a public works facility and road improvements, among other projects.