Cicero Town President Larry Dominick proposed the abatement of $8.2 million in the Town’s levy to hold down property taxes for Cicero taxpayers. The proposal was unanimously approved by the Town of Cicero Board of Trustees at its meeting on Tuesday Feb. 23rd. Had the abatement not been approved, property taxes would have increased $8.2 million. Since his election as Town President in 2005, Larry Dominick has made it his priority to hold the line on municipal property tax increases through sound financial management that has been recognized by national and regional financial associations.

President Dominick and the Town Board have abated taxes nearly every year during the past five years, holding the line on property taxes for residents. President Dominick and the Town of Cicero Board have not issued any requests for borrowing, which creates property tax increases. Instead, President Dominick and the Town Board have worked to pay off the existing debt, which was borrowed by the prior administration prior to Dominick’s election in 2005. Dominick and Chief Financial Officer Donald Schultz also renegotiated interest rates on the outstanding borrowing to lower the interest paid and to also further reduce the burden on taxpayers. The impact of the Town’s actions have reduced the tax burden, but do not reflect increases imposed by the many other government agencies such as Cook County and the Water Reclamation District, Cicero officials noted.