Bourbonnais trustees heard the first reading of four ordinances dealing with the abatement of tax levy on four bonds.

The four bonds total $28.515 million.

It continues a recent trend village officials have been able to abate the tax levy on the bonds.

“By doing this, the village is saving taxpayers anywhere from $146 to $511 depending on the value of their home,” Finance Director Tara Latz said.

The four bonds deal with:

• various capital projects throughout the village,

• TIF economic development incentive for the Road Ranger project at the Bourbonnais Parkway Interstate 57 interchange,

• refinance of bonds allowing the village to capitalize on during the low interest rate environments of 2021 lowering the interest cost for the remaining term of the bond,

• The bond issued for the community campus plan that is The Grove.

“Collectively, these ordinances ensure that the upcoming year’s principal and interest payments on all four outstanding bond issues will be abated from our

2025 tax levy request,” Finance Director Tara Latz explained to trustees.

“The monies we will be collecting on the village portion of tax bills for property within the village corporate limits will not include monies for debt service payments.

“By doing this, the village is saving taxpayers anywhere from $146 to $511 depending on the value of their property.”