Township Freezes Tax Levy
The Lake Villa Township Board has officially approved the Real Estate Tax Levy for the year 2024, maintaining the same levy amount as the previous year. This decision marks a significant achievement for the Board, as they have chosen to freeze the levy rather than increase it.
Supervisor Daniel Venturi expressed satisfaction with this outcome, highlighting the importance of keeping taxes stable for residents. He noted that the Board has successfully held the line on tax increases, having raised the levy in only 2 of the last 10 years.
This commitment reflects the Board's dedication to managing township finances responsibly while considering the economic burdens faced by local residents.
Even though the Township tax burden is less that 2% of the total real estate tax bill, the decision is expected to provide some relief to taxpayers in the community, reinforcing the Board's goal of fiscal responsibility and transparency.
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