Lakewood makes 10 percent cut in property tax levy
Lakewood residents will pay less on their property tax bills for 2018 following a recent Village Board decision to reduce the levy.
“I believe it is critical that residents even outside of Lakewood understand that this successful property tax reduction effort is about a much bigger picture than just the village of Lakewood,” Lakewood Village President Paul Serwatka said in the release.
The property tax levy reduction comes as a result of residents favoring a property tax freeze in a 2016 advisory referendum, the release said. Serwatka led the efforts behind the referendum, which was included in the November 2016 elections.
While many residents supported the levy reduction at a Dec. 18 meeting, Serwatka sought to mitigate the concerns of those who spoke out against it by noting that no services would be cut.
“Illinois is circling the drain and McHenry County is leading, almost the entire country, in exorbitant property taxes,” Serwatka said in the release. “And Lakewood nears the top of McHenry County! I’m a huge believer in the notion that ‘If it is to be – It must start with me!’ That is what this property tax reduction is all about! This is about Lakewood leading by example!”