CHANNAHON — Channahon trustees have approved a preliminary 2012 tax levy for taxes payable next summer.
At $1.988 million, there will be no percentage increase over last year’s levy, as, according to Finance Director Bob Guess, it is exactly the amount of money the village will receive this year. The tax rate should be 0.6711.
“This means there will be no more money from the taxpayers’ pocket,” Guess told trustees.
The amount of the levy approved by the board was one of three options presented by Guess. Of the other two, one at a tax rate of 0.7230 would have been a 7.7 percent increase, and the other, at a rate of 0.6500, would have been a tax decrease of 3.15 percent.
The levy is the third in three years where the EAV of the village has decreased from the previous year. This year, the EAV will have a decrease of 7.48 percent, or $23.9 million. The total decrease since 2010 has been $66.9 million.
The village board also approved contributing $5,000 to the Will County Center for Economic Development, with Trustees Judie Nash and Scott McMillin voting against, questioning Director John Grueling about the importance the center has placed on lobbying for improvements in the I-55/U.S. 6 interchange.
Grueling said the project has been “very high on our list,” and is one of the top five projects for which the WCCED is pushing.
Trustees also approved a resolution supporting the Rock Island Clean Lines wind energy project and setting abatement terms. The project involves developing a 500-mile high voltage direct current electric transmission line, connecting wind generation in Iowa and other Midwestern states with energy demand centers in Illinois.
A converter station could be constructed in Channahon off Bungalow Road at an estimated cost of $300 million. To overcome Grundy County’s unique Machine and Equipment Tax (M&E Tax), which taxes machinery as real property, Channahon approved its part of 100 percent abatement for school districts through the year 2032; 85 percent abatement for all other districts through 2032; 50 percent abatement for all districts from 2033-2042; and no abatements for 2043 and beyond.
The village of Channahon estimates its tax revenues in year one, with the 85 percent abatement, to be $89,000. The project is also expected to create several hundred full-time positions and some permanent positions with the construction of the converter station.
The Channahon village board also:
• Heard the Channahon and Three Rivers Public Library Christmas Tree Lighting Event will be held on Sunday, December 2, from 3 – 5 p.m.
• Approved hiring Kane, McKenna and Associates, Inc. to prepare the village’s annual TIF report at a cost not to exceed $2,500.
All trustees were present at the meeting, with Trustee Debbie Militello present by conference call.