Schaumburg businesses cautious to react to tax

The village currently has no municipal real estate tax. 

theirs will be the lowest municipal property tax around apart from Elk Grove Village's and insist Schaumburg's investment in business infrastructure remains second to none.

Though it's adding another layer of taxes to what property owners already pay, Schaumburg's portion will end up as only about 8 percent of the total paid to all taxing bodies, village Finance Director Doug Ellsworth said.

recommendation for a property tax that would bring in $23.7 million next year, helping fill an existing $17.6 million hole in the budget caused by dwindling sales taxes and other consumer-based fees.

Potential tax bill increase

Woodfield Shopping Center
$1.4 million

Schaumburg Corporate Center, 1501 Woodfield Road
$460,000

Zurich North American building, 1400 American Lane
$435,000

Woodfield Preserve Office, 10/20 Martingale Road
$373,000r

Motorola, Algonquin and Meacham roads
$356,000

Streets of Woodfield
$325,000

Hyatt Regency Woodfield, 1800 E. Golf Road
$160,000

IKEA, 1800 E. McConnor Pkwy.
$159,000

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