Financial consultant gives Cary deadline for deciding tax levy
The village of Cary must pass a real estate tax levy by Dec. 29, the village's finance consultant, DuCharme, recently told board members.
DuCharme presented a tentative levy amount at the Nov. 17 committee of the whole meeting, but said McHenry County staff didn’t have all the information it needed to provide the correct number.
DuCharme estimated the levy for 2016 to be $2,530,413, basing the calculation on the village of Cary’s cap, which is .8 percent. DuCharme also assumed an increase in the village’s equalized assessed valuation of 2 percent.
DuCharme also said the village has received the amount needed to fund the Police Pension Fund for 2016. That amount is $585,000, while next year that amount will rise to $720,000.