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The 1997 tax levy approved by the Village Board on Monday will bring in more revenue without raising resident’s tax rates, village trustees were told.
Growth in the estimated assessed valuation brings the town more revenue but keeps rates “tax-neutral,” Finance Director Barb Shryock told trustees.
Mokena’s tax rate of slightly more than 29 cents for each $100 of assessed valuation is the lowest among 23 Will County towns, she said.
The $742,742 tax levy to be paid in 1998 is 13.3 percent higher than the 1996 levy, but rates will stay constant because growth created more taxable property, she said.
School taxes make up the largest portion of residential tax bills, about 64 percent, Trustee Ed Jancauskas noted.