MWRD announces $17.8M tax reduction through passed ordinances
The board of commissioners for the Metropolitan Water Reclamation District of Greater Chicago has passed ordinances directing the Cook County Clerk to reduce taxes by $17.8 million.
Feb. 11, 2015 -- The board of commissioners for the Metropolitan Water Reclamation District (MWRD) of Greater Chicago announced that it has passed ordinances, directing the Cook County Clerk to reduce taxes by $17.8 million. This reduction will be reflected in the second installment of 2014 real-estate tax bills that will be mailed to homeowners this July.
The MWRD is a government agency responsible for treating wastewater and providing stormwater management. The District was created in 1889 to protect the source of the county's drinking water, Lake Michigan.
"As government agencies continue to work to maximize tax dollars, it is important to maintain accountability and manage these resources prudently," said MWRD President Mariyana T. Spyropoulos. "The board and staff continually seek to identify efficiencies that will result in tax savings for taxpayers."
The MWRD is funded primarily through property taxes, which are restricted under a tax cap imposed by the Illinois General Assembly. The district also recovers costs of treating wastewater through a user charge imposed on certain non-residential users of the MWRD's system. Since 1985, it has returned nearly $412.6 million to taxpayers and has maintained its AAA bond rating from Fitch and Standard & Poor's since 2006.