Schaumburg to mail $150 rebate checks to all owner-occupied homes in town
Tax-rebate checks of $150 for every owner-occupied household in Schaumburg are now signed, sealed and about to be delivered.
Schaumburg trustees this week officially approved their previously informal endorsement of Mayor Tom Dailly's proposal to share some of the village's financial good fortune with residents struggling with surging inflation.
"One of the things we talked about during the pandemic was how we could help people," Dailly explained last month. "We are now in a better position."
Resident Robert Kornowski attended Tuesday's village board meeting to thank officials and explain that the rebate would be most useful to retirees like himself in the form of a check rather than a tax credit or something similar.
Dailly assured him that all payments will be sent as checks. Due to staffing logistics, they're likely to be processed and mailed in waves rather than for the whole village simultaneously.
"Then at least we know what we're dealing with," Kornowski said. "I should have known by all you've done in the past that you really think about our needs. Thank you so much."
Because of the post-pandemic recovery of Schaumburg's consumer taxes, a surplus of $18.4 million in the village's general fund is projected at the end of the fiscal year on April 30.
The $150 rebates to the village's approximately 18,500 owner-occupied residences are expected to diminish the projected surplus by $2.8 million.
Under the rules of the applicable homeowner exemption, neither renters nor their landlords are eligible for the rebate.
Every eligible homeowner in the village will receive the same amount regardless of property value, property taxes paid or household income.
The rebate is being considered a one-time program based on this budget year's specific circumstances.