The Village Board this week approved a property tax break, the second consecutive year Frankfort has been able to give a little something back to residents. Village officials said business is good, so they are sharing the wealth.
“This is really a refund to the residents of excess sales tax revenue,” said Trustee Cindy Heath.
Heath said the town would return 25 percent of its property tax. The amount will total about $300,000, about the same as last year. Because the village levy is only a small portion of the total tax bill, the Frankfort rebate program decreases the average homeowner’s bill by 1.75 percent, she said.
The pattern of healthy sales tax receipts is continuing, said Village Administrator Jerry Ducay. May sales tax revenues exceeded forecasts and came in at more than $338,000, he said.
Applications for the rebate will be mailed out within the next two weeks. Applications should be returned between July 1 and 31.
Residents who have questions can consult the village Web site, www.villageoffrankfort.com, or call Village Hall at 815-469-2177.
