Deerfield trustees are expected to give final approval next week to a 3 percent village tax levy increase.
At a recent meeting, the village board approved the proposed $41.3 million budget for 2014 – the village’s first calendar-year budget.
A final reading approving the tax levy increase, which includes a tax abatement of about $1.3 million for debt not related to the water treatment plant, is expected at the village board meeting on Dec. 2.
“While we realize this is real money, we know we must keep up with our core priorities of infrastructure, public safety and long-term fiscal stability,” said Mayor Harriet Rosenthal, reading from a statement.
The village levy increase will mean about $20 more in property taxes on a $500,000 home, Rosenthal said, noting that the village levy represents about 4 percent of the total tax bill.
The Deerfield levy is projected to increase because of contractual increases with Waste Management and increasing general fund costs related to contracted services, Eric Burk, Deerfield’s finance director has said.
Deerfield is proposing its own $1.9 million “draw down” of reserve funds to abate debt service payments unrelated to the waste treatment facility and to fund capital projects in 2014.
The village’s net levy of about $5.2 million, combined with the library levy of about $4.2 million, brings the total levy to about $9.5 million – or an increase of 3.32 percent, according to village documents.
gtrotter@tribune.com
Twitter: @NorthShoreTrib
