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ROSEMONT, IL- The Village of Rosemont today announced homeowners may again apply for property grants up to $3,060 in 2011. This is the 16th consecutive year Rosemont has offered the grants and the amount per household has grown each year.
“In Rosemont, the taxpayers are the boss,” said Mayor Brad Stephens. “Anytime we can return their money back to them, we should, and I am pleased we are doing it again this year. Our residents help make this town such a success and wonderful place to live.”
The grants are calculated using the first $72,500 of equalized value of a home excluding exemptions, or the actual equalized value less exemptions whichever is less. The maximum grant this year is $3,060, up from $2,992 last year and $2,909 the previous year. The majority of the grant is based on the amount paid in property taxes to the Village and the elementary school district. The grants are intended to help with repairs and maintenance, but homeowners can spend the money as they see fit.
Residents must apply for the grants and pay income tax on the money. The grants are only available to owner occupied property owners that provide proof of payment for their property taxes. In addition, the second installment tax bill must show the homeowner exemption. Applications are available at the Rosemont Village Hall and Park District offices, among other locations. The deadline to apply is December 20, 2011. Checks are paid to homeowners within 30 days of completing their applications. Last year, homeowners received just over $1 million through the program, and over the past 16 years, they have received about $11 million.
Stephens said the future for Rosemont looks bright despite the challenging economic climate. He pointed to the development of the now under-construction The Park at Rosemont, a new restaurant and entertainment complex developed by Rosemont, as a prime example.
“When complete, the new development will boast 200,000 square feet of entertainment, dining, and festival space,” said Mayor Stephens. “The interior of the complex will feature a festive recreational area that will host year-round events, including ice skating, farmers’ markets, concerts, fairs, festivals and exhibition sporting events.”
This month SCREAMS in the Park, a Halloween haunted house attraction, is open for business. Visit www.ScreamsInThePark.com for more information.
The Park and the fashion outlet mall developments together total $300 million and are expected to generate up to 4,000 jobs. Toby Keith’s “I Love This Bar & Grill,” King’s Bowling, Hofbrauhaus beer hall, Zanies Comedy Night Club, Taverna Opa, The Park Tavern, Adobe Gilas and an authentic Irish pub have all inked lease agreements. Muvico, offering a premier movie experience, already anchors one end of the complex. The Park is expected to open in 2012.
www.rosemont.com
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