In what is becoming an annual affair, the Bradley village administration said that it is once again time for tax rebates to its property owners.

At Monday’s board meeting, Mayor Mike Watson said beginning Oct. 1, village homeowners can fill out paperwork to have 100% of the village’s portion of property taxes returned to them.

In the past three years, the village has returned upwards of $2 million to property owners.

The return is typically from a few hundred dollars to upwards of $1,000 for homeowners.

The rebate is open to all property owners within the village, including business owners.

“Anyone who has a PIN number,” Watson said, referring to the Property Identification Number.

The return is only for the village’s portion of the property owners’ tax payment, meaning it does not have any impact on the taxes paid to school districts, park districts, Kankakee County or any other taxing district.

In all, the village has about 5,000 property owners.

The rebate is for 2024 taxes payable in 2025.

Property taxpayers must have owned the property the entire year.

“It’s a great opportunity to get some money back,” Watson said of property owners.

The village collects about $13 million through two sources of sales taxes, the first being the standard sales tax collected through the 6.25% rate, which includes state and local taxes. Through this source, the village collects $7 million.

The second source is the additional 1% increase voters levied upon themselves through a March 2020 referendum. Through this source, the village collects $6 million.

The third source is a business district tax, which covers about 75% of the village. The business tax brings in another $5-plus million.

Through this $18 million stream of revenue, the village can return the $2.2 million.