The Finance Committee is recommending a $2.2 million increase in its property tax levy to pay for the Weller Creek and municipal library debt service projects.
The increase is a full 15.5 percent increase, to about $16.5 million from $14.3 million.
The owner of a home with a $2,300 property tax bill would pay an additional $35, with $20 going to the village and $15 to the library.
Voters passed a referendum last spring allowing the village to issue $8.9 million in bonds for a major renovation and expansion of its existing library, at 500 N. Dunton Ave.
The Weller Creek project, for which $18.7 million in bonds were issued, includes installing new sewers to help alleviate flooding.
The Weller Creek project accounts for $1.2 million in taxes, while the renovation to the Arlington Heights Municipal Library will add $805,765 in gross property taxes for the village in 1992.
The village`s general corporate and special tax levy alone will increase $586,000, a 4.9 percent increase. A 5 percent increase would require a public hearing to approve the levy.
The Village Board will consider the levy at its Dec. 7 meeting.
