Good news for DuPage County homeowners: the DuPage County Board has voted to abate $5 million in property taxes.
Property Tax Abatement To Give Financial Relief
The board voted through the decision Tuesday, in an effort to give local residents some financial relief, according to a press release.
DuPage County Board member Jim Zay proposed the tax abatement back in September. He brought it to the board’s attention during a meeting, after a presentation on a $40 million surplus for the county. Those extra monies had come about due to cost-control measures, and sales tax revenues that were above what was expected.
“The County has received hundreds of millions of dollars in federal COVID-19 relief funds and increases in sales tax revenue, while our residents are dealing with rising costs due to inflation and declines in the stock market,” Zay said. “We need to provide any help we can to our residents.”
One-Time Reduction
This tax abatement is a one-time reduction in the County’s Corporate Fund property tax levy, according to the press release. It will bring DuPage County’s property tax levy to $65.16 million. That’s the lowest it’s been since 2006.
Naperville News 17’s Kim Pirc reports.
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