Taxes, Fees To Keep Rising For Glencoe Homeowners

GLENCOE, IL — Taxes and fees for Glencoe homeowners will rise in 2019 and keep rising under a draft budget for the coming fiscal year. Within the next five years, the average Glencoe household will pay more than $1,700 in additional property tax and fees for services, according to a village financial forecast.

The budget for fiscal year 2020 for the village and the Glencoe Public Library is nearly $14.4 million, representing an increase of about 2.8 percent.

It was granted preliminary approved earlier this month by a 4-0 vote of the Glencoe Village Board. Trustees Barbara Miller, Pater Mulvaney and Greg Turner were absent. The board will consider granting final approval to the budget next month before the start of the 2020 fiscal year on March 1.

Finance Director Nikki Larson said draft budget was the result of an extensive review that began at the department level.

"This budget document was developed in accordance with the village's strategic plan and the financial forecast," Larson told trustees Dec. 20. "Overall the total budget includes an increase in revenue and a slight decrease in expenditures."

Spending was expected to be reduced by 2.1 percent, due to a combination of operational efficiencies and timing, while revenues are expected to increase by 1.9 percent, Larson said. The budget includes cost of living adjustment of 2.5 percent for all village employees with no increases to staff levels.

The village's share of property taxes on a near-median home valued at $800,000 would rise from $4,224 this year, to $4,400 for fiscal year 2020 and $5,344 a year for 2023.

Fees for a mid-size Glencoe household are projected to rise by $122 next year and $654 by 2023, according to a financial forecast from the village.

Denise Joseph, assistant to the finance director, outlined a 9 percent increase to water rates and 7.1 increase in sewer rates to fund infrastructure improvement, as well as increases for temporary food services, fireworks permits, exterior property maintenance and filing complication applications with the plan commission and zoning board.

The village also expects to place bond referendums on future ballots to help support a 10-year, $47 million capital improvement plan, Larson told trustees following a Dec. 20 public hearing on the budget. She said this year's budget also includes a one-time payment of $1.6 million from the general fund to support the capital plan.

"If everything were to go as planned, based on our current projections, all of the funds would close out FY 2020 within recommended fund balance targets," Larson said.

The village budget also includes a total of $93,500 in grants to six organization. Village President Larry Levin said that was an increase of $5,000 compared to last year but $9,000 less than what local nonprofits requested.

Family Services of Glencoe will receive $40,000 for social services, including senior housing, the Writers Theater was allocated $20,000 and Youth Services received $12,000.

"The Chamber of Commerce had requested $8,000, we ended up granting $4,000 because of the amount of time and things the village does for the chamber that we felt should be taken into account." Levin said.

President Levin recommended residents review the budget online and contact village officials with any thoughts on it.

"I would highly recommend that our residents go through and read the budget and if they have any questions, or thoughts or anything they would like to discuss on it, that they get in touch with us so that we have the opportunity to have any feedback from the residents," Levin said.

The village's fiscal year currently runs from the start of March to the end of February. However, the village plans a 10-month transition year in 2020, so beginning on Jan. 1, 2021 fiscal years will be aligned with calendar years, according to village manager Phil Kiraly.

The village board will consider final approval of the 2020 budget at its Jan. 17 meeting.

Read Draft Glencoe Fiscal Year 2020 Budget Document