The village’s growth spurt might help Romeoville pull in some additional revenue without raising the tax rate.
An expected jump in the town’s equalized assessed valuation from $196 million last year to $216 million this year will let village officials levy as much as 10 percent more revenue without hiking homeowners’ tax rates, Mary Britton, the village finance director, told the Village Board earlier this month.
Britton estimated as much as $3,200,400 in revenue could be raised without boosting the current tax rate of $1.52 for each $100 of assessed valuation.
Revenue can increase without a tax hike because there are more people to share the costs, Mayor Fred Dewald said.
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The estimated increase in assessed valuation is conservative, Community Development Director Greg Anderson said.