Elburn’s assessed value drops

By on April 6, 2012

by Susan O’Neill
ELBURN—Elburn’s assessed value has dropped $30 million in the past two years, from $199 million in 2009 to $169 million in 2011, Village President Dave Anderson said. There was a 14 percent reduction in EAV (Equalized Assessed Value) across the county between this year and last year, with a 12 percent decrease in Elburn.

Due to some new construction in Elburn last year, the village will still receive $13,000 more in taxes collected by Kane County than last year.

“We’re still trying to provide the same services to more people,” Anderson said.

This year, the village will increase its tax rate from 35 cents for every $100 of EAV last year to 39 cents. The village’s portion of a resident’s property tax bill is less than 4.5 percent. That works out to $396.63 on a $100,000 home.

“I think that’s a bargain,” Anderson said.