CSP Suburban Life • mysuburbanlife.com • Friday, March 28, 2014 • NWD
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DuPage County Clerk: Home values down, tax rates up By NATHAN LURZ nlurz@shawmedia.com Despite a fifth consecutive year of declining home values, DuPage County residents will see an average increase of 4 percent on tax bills in 2014, according to a report from the office of County Clerk Gary King. The assessed value of county land dropped 5.4 percent in 2013 to about $32.8 billion from about $34.6 billion in 2012, the report said. At the same time, the average rate levied by taxing bodies across the county rose 9.36 percent. Chief Deputy Clerk Paul Hinds said this year’s numbers continue trends established by the 2009 recession. However, King said, it appears property values could be rebounding after an 8 percent decrease in 2012. “Hopefully the reduction in the value of property in DuPage is slowing down,” he said. “Within a year or two,
By the numbers
5.4 9.36 3.96 $180.8M
Percent of property values down Percent of tax rate increase Percent average tax bill increase
Value of new construction
$2.63B
Total tax dollars extended
we should be back going up, meaning that the downturn in the county the last five years is softening.” Of the 384 taxing districts in the county, 184 were eligible for the state-mandated tax cap. Every year, school and park districts, non-home rule municipalities and other tax-
ty real estate taxes. Cities will take 9.74 percent; parks 5.09 percent; the county 2.63 perHIGH RATES cent; the forest preserve 2.08 Municipality Township Percentages percent; and townships, fire Hanover Park Wayne 12.7 districts and others divvy the Glendale Heights Bloomingdale 12.64 remainder. West Chicago Winfield 11.42 There was an increase of West Chicago Wayne 11.3 about $40 million in new conCarol Stream Bloomingdale 10.21 struction, up to $180.8 million, and a growth in the number LOW RATES of taxable parcels, up 46 to Municipality Township Percentages 334,835. Oak Brook York 3.84 King said the county likely Willowbrook Downers Grove 5.18 won’t see any large increases in the number of taxing bodies Burr Ridge Downers Grove 5.35 in the near future. Hinsdale Downers Grove 5.73 “Over the years, the forHinsdale York 5.74 est preserve has gotten more land, municipalities have gotten more park land, and in aling bodies can only increase affected taxing bodies were most every town in the county their annual tax levy by the required to levy for less than you’re seeing bigger houses Consumer Price Index or five last year. Nevertheless, that being built,” he said. “We’re percent, whichever is lower. wasn’t enough to keep things probably at a figure where, Of those, 152 were reduced to even. population-wise, we’re pretty meet the tax cap for a total of “You’re paying more be- full.” $286.5 million. cause your districts asked for Residents can expect propThe CPI was 1.7 percent more,” Hinds said. erty tax bills to arrive May 1. in 2013, down from 3 percent School districts are set to They are due in equal installthe previous year, meaning take in 73.32 percent of coun- ments June 1 and Sept. 1.
Tentative principal tax rates
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