River Forest considers limiting home-rule taxing authority
Updated: September 24, 2012 7:01AM
RIVER FOREST — Village officials are close to passing an ordinance that would keep property tax caps in place, even if voters give them home-rule authority this fall.
Village President John Rigas Monday night called the self-imposed taxing limitation “a compromise” to build trust with the community and to ensure future village boards stay fiscally conservative, despite having home-rule powers.
The Village Board is also considering exceptions that would allow the village to exceed the tax cap. Those, most notably would be: damage to infrastructure from a natural disaster such as a tornado and new unfunded mandates from the state that could not be financed in other ways.
The self-imposed taxing limitations ordinance and the wording for the exceptions are both scheduled to be on the Village Board’s Sept. 10 meeting agenda.