Lake Barrington Announces Village’s Portion of Property Tax Levy Will Not Increase in 2017

LAKE BARRINGTON, IL – For the third year in a row, the Village of Lake Barrington has announced that it will not be increasing its portion of the property tax levy in 2017.

The Village has worked diligently to promote economic development through the recruitment of new businesses into Lake Barrington and by supporting the expansion and growth of the Village’s already strong local business community. The Village’s ability to hold the line on the property tax levy is indicative of their solid economic standing, a result of the Village’s judicious management of taxpayers’ dollars.

“As elected officials, we believe our duty to be good stewards of the residents’ hard-earned tax dollars should be taken seriously,” said Lake Barrington Village President, Kevin Richardson. “We pride ourselves on prudently managing the Village’s finances and focusing our efforts on the creation of a business-friendly village. Following this plan, we have eliminated the need for an increase to the property tax levy for the third year in a row. “

Richardson noted that economic growth and development in the Village has continued to increase again this year, both in commercial and residential areas. New businesses are opening in the Pepper Road Business Park and along U.S. Route 14. In addition, new residential construction continues with subdivisions such as Tallgrass and the Enclave.

“Lake Barrington’s unique charm combined with the meticulous planning accomplished over the past several years, should ensure that the Village maintains this strong position for years to come. The Board of Trustees and I are grateful for the continued support of the residents and those who operate businesses in our community. We all look forward to a prosperous 2017,” Richardson said.