The Highland Park Town Council is proposing a tax increase of 2.67 percent on all total tax revenues from properties on the tax roll in the last tax year.
Depending on any changes in your taxable property value "in relation to the change in taxable value of all other property and the tax rate that is adopted," the Town says, you might not have to plan for higher taxes. It's even possible that your taxes could decrease.
Mayor Pro Tem Lawrence Nixon, Bob Carter, Andrew Barr and Stephen Rogers voted on the proposal to consider tax increases in the Town, but Will Beecherl was absent for the discussion. No one on the council voted the proposal down.
The public is invited to express opinions about the suggested tax increase during two hearings. The first will be on Aug. 26 at 4 p.m. during the regular city council meeting, and the second will be on Aug. 30 at 8 a.m. during the council work session. Both hearings will occur at 4300 MacArthur Ave., Suite 160 in Highland Park.
According to the Town, the average taxable value of a HP residence this year is $1,425,866.
They say that if, upon hearing the public's views, the council approves the tax increase then an average homeowner’s tax cost would be $3,136.91, in accordance with a rate of $0.220000 per $100 of taxable value. This would be a $81.64 increase from the previous year.
If the tax increase were not enacted, the average amount a HP resident would pay in taxes is $3,055.27.
Residents are welcomed at one or both public hearings to discuss the proposed tax increase.
For more information about the hearings, click here.