Glenview lawmakers have approved the village’s 2024 budget that includes a small decrease in the village’s portion of the property tax bill but a slight increase in the water and sewer rates.
The Glenview village board voted unanimously in favor of the $94.1 million corporate fund budget during its Dec. 5 meeting. The financial document contains $37.3 million in capital improvement projects, including $17.3 million for 3.8 miles of road reconstruction and related water storm and sanitary sewer system projects, $3.2 million to resurface 4.9 miles of road and a $5.4 million public works campus improvement project.
“It’s important to invest in our infrastructure because just as we do with our homes we want to take care of our homes so they look nice, it increases the value of our homes, the same thing with our community in that also helps with the property owners in our community for their home values and business values to increase,” Erika Smith, financial systems manager with the Village told the board.
The Village also has a one time $600,000 cash balance in a debt service fund that is being used to reduce the village’s portion of the levy generating an average decrease of $19 on the village line of tax bills, staff said.
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“It’s good to see the continuation of the stewardship of public funds inclusive of a tax cut this year,” Village President Michael Jenny said during a Nov. 21 meeting when the board gave preliminary approval to the 2024 budget.
Village staff said the Glenview’s portion of the property tax bill is about 5.8 % of the overall tax bill meaning that less than 6 cents of every property tax dollar goes to the village. More than 65 % of the tax dollar supports local school districts with the Glenview Park District getting about 7.9%, Cook County getting 7 %, the water reclamation district getting 5.1 %, the Glenview public library getting 3.8 % and other taxing bodies, including Oakton College, getting 4.2 %, village staff said.
They also said that according to 2022 data, Glenview’s levy is the lowest of 21 nearby Cook County municipalities and that Glenview rarely raises its levy. In addition the village is only one of 13 Illinois municipalities to receive a “Triple A” rating from Moody’s for the last 33 years allowing the village to take advantage of lower interest rates when financing is needed.
More than half of the $94.1 million operating budget is spent on police, fire, EMS and Public Safety Dispatch, which takes 911 calls, said staff. They said the balance of funds pays for snow and ice maintenance, landscaping and forestry services, the resolution center, records department and information technology.
The Village this year also saw the closure of the Waukegan/Golf TIF district. The site of the former Avon Baker development property is now home to a 75,000 square foot Mariano’s grocery store, 15,000 square feet of inline retail, 8,500 feet of outline retail, the Glenview Bank and Trust building and a 238 unit apartment building, Smith said.
The conclusion of the TIF means local taxing jurisdictions like the library, Park District and school districts will begin directly receiving property tax payments from the property, she said.
Water and sewer rates are increasing by approximately 3.16% and 4.44%, respectively, using an assumed usage of 15,000 gallons, staff said. They said the Water Fund and Sewer Fund are budgeting $9.6M and $1.9M, respectively for capital costs, which maintains the practice of fully funding the infrastructure needs in the village’s drinking water and wastewater transmission systems.
“The 2024 Budget continues the Village’s ongoing commitment to challenging the status quo, evaluating opportunities for alternative service delivery models, and holding the line on cost increases,” a budget memo from village staff. “Staff closely monitors major revenues throughout the year in order to adapt to any economic fluctuations.”
Brian L. Cox is a freelance reporter for Pioneer Press.