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The tax rate in Mokena continues to decline even though the 1998 tax levy approved this week by the Village Board increased by $62,047 over last year’s total.
The $641,928 tax levy is based on the growing town’s increased equalized assessed valuation, Finance Director Barbara Damron said.
Homeowners will see significantly lower tax bills from the village, she said, noting that taxes on a $150,000 home are expected to decrease by about $29 and taxes on a $250,000 home are expected to decrease by about $49.
The 1998 Mokena tax rate will go down to 23 cents for each $100 of assessed valuation from 29 cents for each $100 of assessed valuation in 1997.