Tuesday, April 25, 2017

REMINDER NOTICE to Village Residents/Property Owners: Special Assessments

As part of the Village’s annual Capital Improvement Planning process, our 71 miles of Village streets are evaluated for needed resurfacing and repairs. Streets are typically resurfaced once every 20-25 years.

Special Assessments are currently used by the Village to fund these resurfacing projects.  Assessments involve charging a fee directly to property owners for improvement projects that benefits the abutting property.  Assessments per property (lot) can range from approximately $6,000- $8,000. Corner lots are assessed at 1/2 lot per side.

Bills are typically sent out in September and may be paid in full without interest within 30 days. If the bill is not paid in full within 30 days, charges are levied on the property tax bill with interest. Payments are due annually over a 10 year period on the tax bill. Assessments can be paid off early and interest is charged only on the remaining principal.

Residents are encouraged to review our Village Capital Improvement Plan and Special Assessment page to learn more about our program and when your road may be planned for improvements. Plans are reviewed annually and therefore are subject to change annually. Residents with resurfacing projects in 2017 and subject to assessments have been notified. Currently, no projects are scheduled again until 2019.