2022 Village Budget and Tax Levy
A public hearing on the property tax levy will be held at the November 15 Village Board meeting. Also on November 15, the budget ordinance, fee resolution, and 2022 wage and salary ordinance will all be up for final consideration. The fees for liquor licenses for restaurants and hotels have been waived for a second year due to the ongoing Covid-19 pandemic and its impact on these businesses.
The total expenditure budget for fiscal year 2022 is $53,544,694, which represents a 4.27% increase from last
year’s budget. This year’s expenditure increase is primarily due to increased capital project funding.
As part of this year’s budget planning process, the Village Board established a two-year capital plan that would total approximately $19.5 million over 2022 and 2023, depending on federal grant dollars received. That includes a $7 million bond issuance and $7,385,000 of expenses from the 2022 Infrastructure Replacement Fund.
The operating component of the budget is $31.96 million, which is a 2.77% increase from the prior year. The increase in the operating component is due primarily to contractual increases in personnel services, and other contractual services and commodities.
Owners of a $500,000 home will see an increase of $20 from the Village's portion of the property tax bill.
Click here to learn more about the budget, tax levy and how to participate in the meeting.