Fox River Grove cutting property taxes 7 percent in 2019

Fox River Grove property owners will pay roughly 7 percent less in taxes to the village in 2019.

The village board recently adopted an $18,882 (2.1 percent) increase to the amount of property taxes to be collected for the village portion of the tax bill, but that will be offset by a $97,558 reduction due to the retirement of an outstanding general obligation bond, officials said.

As a result, the village will collect $73,185 less in property taxes for 2019 - a 7.3 percent cut.

"Two years ago the village board committed to finding a way for the village property tax to remain flat or be reduced for a three-year period," Village President Robert Nunamaker said. "This latest tax levy approval delivers on that commitment even though many costs dictated by state statute and out of the village's control continue to rise."

The village's police pension cost continues to rise faster than the allowed consumer price index (CPI) adjustment available under the property tax cap law.

This year's projected CPI increase in the village's base property tax dollars is $18,882, which will be consumed by the $27,400 increase in the village's required contribution toward its police pension fund - estimated to be between $462,600 and $490,000, officials said.

The village's portion represents about 6 percent of the overall property tax bill in Fox River Grove. The other 94 percent is controlled by other taxing bodies - schools, 68 percent; county, 8 percent; and fire district, 6 percent.