Wayne voters reject tax hike
Wayne voters rejected a 17-percent property tax increase intended to counter the village's first major budget gap in almost 30 years, Tuesday's unofficial election results show.
With all eight precincts reporting, 454 voters cast ballots against the measure, with 202 voting in favor.
The hike would have increased the village property tax rate from about 0.32 to 0.49 per $100 of assessed valuation, resulting in a $230 annual increase for the owner of a $400,000 home. Officials said the measure would cover revenue losses that grew out of the economic downturn.
According to the village, revenue from sales, income and utility taxes plummeted some $350,000, or 20 percent of its annual budget.
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<li><a href="/news/politics/elections/2010/primary/race/?id=ref_kane County">More on Wayne tax referendum </a></li>
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