Winnetka Keeps Taxes Flat, Raises Some Fees In 2018 Budget Plan

WINNETKA, IL — The Winnetka Village Council is set to approve its 2017 property tax levy and a proposed 2018 calendar year budget at its meeting Tuesday. While some fees and rates will increase under the budget, the village will not raise property taxes on existing properties for the fourth year in a row, according to Finance Director Tim Sloth.

The proposed 2017 property tax levy would bring in $14,706,625 to pay for Winnetka's operations, which represents an increase of $116,719 or 0.8 percent from the prior year. However, because new development is estimated to also be 0.8 percent, most residents will not see any increase in their property tax bill, Sloth wrote in a memo to the council.

The tax and budget ordinances were introduced at a Nov. 21 Village Council meeting. The minutes of the budget hearing indicate there was no public comment or testimony.

As for utility rates and fees, Sloth recommended an increase to electric rates of 2.2 percent with a 0.8 percent projected power cost adjustment for residential customers.

Fees for water service will rise 8.5 percent, due to changes in the rate per cubic foot and the addition of a new charge for customers based on meter size, he said.

The new rates were derived from an electric rate study and water rate study conducted in 2016-2017, according to a memo from Sloth.

Because the village issued a combined $16.5 million in general obligation bonds in 2013 and 2014 to fund stormwater improvements, it intends to abate the property tax levy every year for those bonds and to use stormwater utility fees to pay their principal and interest. Sloth's memo said there are currently enough funds on hand to cover the 2017 property tax levy connected to those bonds.

» Read full 2018 Village of Winnetka budget

_{Top photo by Tim Moran}