VILLAGE OF ADDISON'S TAX RATE DECREASESTax Bills Confusing to Some Residents, But News is Good Thanks to Commercial GrowthProperty tax bills, soon to appear in homeowners' mailboxes, will show good news for Addison residents - the Village of Addison's total property tax rate has decreased from .4564 to .4482. The Village has been able to hold down property tax rates due to appreciating residential property values and consistent growth in its commercial and industrial areas. The commercial and industrial areas saw increases due to such things as the opening of a new Osco store on Lake Street, and the construction of the world headquarters and warehouse facility for Pampered Chef on Swift Road. Village leaders take pride in the fact that the village government's tax rate has consistently remained below the midpoint of DuPage County communities, providing Addison residents with a high level of service at a reasonable rate. The format of the tax bills, which are distributed by DuPage County, has changed due to the Village of Addison having entered into new boundary agreements with the Villages of Lombard and Wood Dale in 2001. As a result of these agreements, two properties were disconnected from Addison, and incorporated into the other villages. However, these properties are still responsible for their share of any outstanding Village of Addison bond issues. Because of this, the county must now separate Addison's regular village rate and its bond rate on property tax bills, which may be confusing to some residents. The Village's total rate has appeared on tax bills under two categories in the past, but will now appear in three categories. However, the total tax rate will still show a decrease. |
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