Village Board Approves Lower Tax Levy for 2012
The board also discussed the state of the Frankfort police pension fund.
The Frankfort Village Board voted unanimously to approve the 2012 tax levy for approximately $2.85 million at a board meeting on Monday evening. The 2012 levy has an estimated tax rate of .3391 and represents a 4.16 percent decrease from last year’s levy of approximately $2.98 million, according to documents provided by the board. Frankfort’s equalized assessed value decreased by 5 percent during the last year. The village also experienced a $9 million increase in new growth in 2012, documents state, although in past years the village has seen new growth increases as high as $30-40 million, according to Board Trustee Cynthia Heath. Mayor Jim Holland said that every resident whose property value stayed the same or decreased in 2012 will see…
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