Bellwood Business District Tax Reduced To Zero Effective January 2016

October 26, 2015
To spur business development and in a sign of an improving local economy, Bellwood Mayor Frank A. Pasquale and the Board of Trustees recently voted to reduce from 1 percent to zero the village’s Business District Retailer Operation Tax for retailers in the Mannheim Road and St. Charles Road business development districts.

 

The rollback, which takes effect in January 2016, will positively impact Bellwood shoppers and those from other communities who patronize approximately 100 retail businesses that collect sales tax in the two districts that were created in 2007 through a state statute.  

 

“There are a few factors that allowed us to eliminate the village’s Business District Retailer Operation Tax, as it’s known,” said Mayor Pasquale. “For several years now, our tight financial controls and strategic focus on economic development have been working well, and now we can comfortably eliminate the 1 percent tax that retailers who collect sales tax in those two business districts had to pass on to their customers. This is a win-win decision for businesses and customers alike.”



 
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