Arlington Heights Poised To Pass Flat Property Tax Levy

ARLINGTON HEIGHTS, IL — Arlington Heights residents may get a little break on their property tax bill in the next year as the village appears poised not to raise property taxes within its village levy for the first time in five years, the Daily Herald reports. The village has been reviewing its proposed $177 million budget with plans to have a public hearing on the budget and a final vote on the matter in December.

The circumstances of the flat levy are "unique," village officials said, and include a $1.5 million budget surplus from 2018 that is being used to decrease police and fire pension fund liabilities; bond refinancing that saw a drop in interest rates from 4 to 1.35 percent; and increased enforcement of vehicle stickers, which has brought in $400,000 since earlier this year.

The Arlington Heights Memorial Library is also appears poised to pass a flat levy as officials began budget discussions this past week.

The average homeowner's property tax bill will have 12 percent of collected taxes going to the village while schools get around two-thirds of the total bill.

The village represents 12 percent of an average homeowner's property tax bill, while schools encompass two-thirds, according to the Daily Herald. The library has its own elected board but passes its levy through the village.

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