The Village Board agreed Monday night to spend $47,940 to determine how much the population of Palatine has grown since the last official count that included annexations and new construction.
The U.S. Bureau of the Census will conduct a population count in areas of Palatine that were developed since the last national census in 1990 and in areas annexed to Palatine since December 1992, when the Census Bureau did an updated count on Palatine’s population.
The Census Bureau declared Palatine’s population in 1992 to be 41,300. However, village officials believe the population has 10,200 more people for an estimated total of 51,500.
Based on that increase, if verified by the Census Bureau, the village would receive an extra $68,000 to $93,000 per month in returned revenue from state taxes such as income tax, motor fuel tax and photo processing taxes.
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Also, if the village’s population is found to be above 50,000, the village is eligible for federal Community Development Block Grants, which can total as much as $300,000 per year, according to village officials.