FY 2019 Proposed Budget Presented, Includes Lowest Property Tax Levy Increase in 22 Years
The Proposed Budget includes the lowest percentage increase in the property tax levy in 22 years at 2.75%, no increase to the sewer rate for the fourth consecutive year, as well as no increase to the vehicle license or building permit fees despite the loss of major sales tax generators such as the Carsons’ Furniture and Department Stores. The Proposed Budget includes a modest 2.7% increase in the water rate, only the second such increase in the last seven years.
“The 2019 Budget demonstrates the Village’s continuing strong financial position, and results from the close collaboration between the Village Board and the staff,” stated Village Manager Tim Frenzer. “The Village continues to benefit from budgeting practices that focus on reducing expenses, finding efficiencies, and taking a prudent, conservative approach to revenue projections.”
The Proposed Budget maintains the Village’s commitment to improving infrastructure with more than $10 million dedicated to capital projects, with nearly $1 million funded through state and federal grants. The 2019 capital program includes reconstruction of Locust Road, repair of three failed alleys, restoration of one failed brick street, repair of the Glenview Road North Bridge sidewalk, replacement of four police squad cars, and critical electrical improvements at the Water Plant.
The Village Board will hold a Budget Workshop open to the public on Tuesday, October 30 at 7:30 p.m. at Village Hall to review the budget. The 2019 Budget will be approved by the Village Board on November 27.
The Proposed Budget can be viewed in its entirety on the Village website by clicking here.