A new tax levy approved Monday Dec. 5 by the Clarendon Hills Village Board should result in residents seeing a slight decrease in the portion of their property tax bill that goes to the village in 2023.
For a house valued at $500,000, the projected village portion of the 2022 tax bill paid in 2023 is $1,092, down $28 from $1,120 last year, said Clarendon Hills Finance Director Maureen Potempa.
But she pointed out that while the village’s tax bill should be slightly less, that doesn’t mean the total property tax bill for Clarendon Hills residents won’t increase in 2023.
“The portion levied by the village accounts for about 11% of the total property tax bills for Clarendon Hills residents,” Potempa said. “The vast majority of property tax payments are targeted for public school districts.”
Potempa said this is the seventh consecutive year for which the Village Board hasn’t taken the maximum allowable tax increase. The village’s levy is estimated to increase by 2 % of the estimated allowable rate of 6%, based on the approved levy.
“This is something that the village is particularly proud of in the upcoming budget for the 2023 calendar year,” Potempa said.
Village President Len Austin agreed.
“I am proud of the budget submitted my our staff and approved by our board,” he said. “Even though we were allowed to levy 5%, plus an additional 1% for new growth, we are only going to raise 2%. High property taxes are the number one complaint we hear from residents. Our staff and board are doing their part to only raise what is necessary.
“To be able to maintain a 10-year plan in the budget with a 2.0% tax levy increase in an environment in which many surrounding communities are levying for the consumer price index maximum of 5% is indicative of the fiscally responsible decisions that continue to be made each year by management and the Village Board.”
Potempa said that as the average home value and equalized assessed value continues to increase, the tax rate decreases, so even though the village levied a 2% increase, the tax rate is still decreasing.
Clarendon Hills’ estimated 2022 tax levy is $4,451,132, an increase of $87,277, or 2% over the previous year’s final extension of $4,363,855, Potempa said. Of the $87,277 increase, $51,076, or 59%, is for the pension funds — police and the Illinois Municipal Retirement Fund. She said the remaining portion, $36,201, or 41%, will go for general purposes.
The total general fund revenues for the proposed 2023 budget are $9 million, and projected expenditures are nearly $8.7 million, Potempa said.
Personnel accounts for the most significant portion of general fund expenses at 78%. Contractual services make up 15%, with the remaining categories accounting for 7%.
General fund revenues come primarily from property taxes, 49%, with state-shared taxes at 33%, Potempa said.
Chuck Fieldman is a freelance reporter for Pioneer Press.