Elmhurst property owners might pay slightly higher taxes next year to help the city pay for required increases in police and fire pension funds, officials said late Thursday.
Members of the City Council’s Finance Committee said they hope they would not have to recommend any tax increases this year, but they said mandated increases in the pension funds–a 16 percent jump in the police fund and a 13.8 percent increase in the fire fund–require the city to come up with extra cash this year.
Officials said a nearly 5 percent increase in the city’s portion of property owners’ tax bills would allow them to cover the pension fund expenses. Excess revenue would be placed in the city’s general fund, officials said.
More Top Picks Best Reading Pens For Adults With Dyslexia
Committee members are to discuss the plan again Nov. 24. The full City Council is to vote on the issue Dec. 2.