Buffalo Grove to abate some taxes

Buffalo Grove residents will see a slight reduction in their municipal taxes, as on Monday the village board passed an ordinance abating a portion of the property taxes it levied for 2011, to be collected in 2012. The original levy was $14.4 million. The village will abate $200,000 of that figure. Finance Director Scott Anderson told the board the village would be abating taxes on the repayment of corporate purpose general obligation bonds issued in 2010 to finance the advance repayment of bonds from 1992, 1994 and 1995, including bonds for improvements at the Metra station, as well as bonds for street maintenance. Trustee Jeffrey Berman commended Anderson, saying, “I know it gets more difficult every year to find abatements, but it is always a pleasure to pass an abatement ordinance that reduces the levy,” thereby giving back to the community.