Schaumburg Library announces $1.5 million abatement to tax payers
Due to the economic impact of COVID-19, the Schaumburg Township District Library Board of Trustees approved a $1.5 million abatement on property taxes at a special board meeting held May 29, 2020.
"All trustees were in unanimous agreement that our residents would benefit from any amount of economic relief we can provide at this time," said Library Board president Anita Forte-Scott. "We're proud to make this gesture of goodwill to show the community we care."
After reviewing the Library's reserves, investments, cash flow and anticipated expenses, trustees felt confident to approve the abatement without impacting the Library's services. The $1.5 million abatement represents a temporary reduction of the tax levy by about 9.4%.
While there are many factors that determine property taxes, if all other factors remain unchanged, homeowners in the Library's service area can expect to see an approximate reduction of 9.4% to the Library line item on the second installment of their property tax bill.
"Through years of careful planning and strong financial stewardship, we can offer this abatement without affecting ongoing Library services," said Forte-Scott. "So patrons can continue to enjoy our collections, programs and other fantastic services moving forward."
Schaumburg Township District Library's buildings remain closed to the public until further notice, but a variety of services are available online at SchaumburgLibrary.org. The Library is now accepting returns in the drop box at the north end of the Central Library parking lot, Mondays -- Saturdays, 10 a.m. -- 6 p.m., and the Library plans to launch a new Curbside Pick-Up service soon. Library administration continue to review guidelines from Governor Pritzker's office and public health officials in determining how to safely resume services and when to reopen the buildings.
Schaumburg Township District Library is committed to providing relevant information, books, media, technology and programs for all ages in a safe and friendly environment through the service of well-trained staff. Visit SchaumburgLibrary.org for locations, hours and more.