Cambridge village board announces tax levy for next year
About this story: As the calendar year winds down, village board members have to approve a tax levy. Find out how the Cambridge board voted on the amount to raise through property taxes.
There was good news for residents of Cambridge at Monday’s meeting of the village board.
As a result of the savings from insurance, the tax levy for 2017 will not be increased.
The board approved a one-year contract with Corkill Insurance, Elk Grove Village, for worker’s compensation insurance at a cost of $14,248.
Also, members accepted a one-year contract with the Illinois Municipal League for property and liability insurance at a cost of $16,159, a savings of $15,719 compared with a bid of $31,878 from Corkill Insurance, which had been the village’s insurance carrier for the last year.
“As a result of the insurance savings, the village will not increase the tax levy for 2017,” village administrator Dwaine VanMeenen said. “The rate will remain at $1.2393 (per $1,000).”
The village equalized assessed valuation (EAV) increased .08 percent, from $17,814,497 to $17,965,151.
The total tax dollars to be requested are $222,642, which is more than last year’s amount of $220,775.
“This is the third consecutive year we have not had to raise property taxes, and I am very happy about that,” VanMeenen said. “So is the board.”
In other business, the board approved spending $3,827.90 for five surveillance cameras and equipment to be installed at the village office and the recycling center.
When the new pavilion is finished in College Square Park, cameras will be located there.
The board also:
• Presented a 15-year service award to Boyd Johnson, an employee of the village public works department.
• Approved an ordinance establishing an enterprise zone if a local consortium’s application is successful. The incentives include state sales tax exemption.
“An enterprise zone is a great economic tool to use for retention, expansion or the attraction of new business to locate in Cambridge and in the surrounding communities,” VanMeenen said.
• Approved a one-year lease with Brad Maertens for 5.7 acres of village-owned farm land east of Cambridge at $235 per acre for a total of $1,343.73.
• Approved a proclamation to celebrate the 200th birthday of the State of Illinois. A celebration is planned at noon on Monday, Dec. 4, at the Henry County Courthouse in Cambridge.