Attached is the 2023 Tax Levy Ordinance which was discussed at the November 13, 2023 Committee-of-the-Whole meeting. The Village’s total proposed tax levy, including the Library and Debt Service levies, reflects a 0% increase over the prior year’s levy. Attached is a schedule comparing the 2022 tax levy to the proposed 2023 tax levy. The Village comprises only about 11% of a homeowner’s total tax bill.

A summary of the levy request starts on Page 3. The Village is levying for Police and Fire protection, IMRF, FICA, and Police and Fire pensions. These levies are identified as special purpose levies and deposited in the General Fund. They are directly related to personnel costs and are calculated as a percentage of eligible employees’ salaries or based on actuarial studies. Other special purpose levies are for the Library and for Capital Improvements. Total corporate and special purpose levies amount to $46,373,000. The Debt Service levies add another $6,498,000 bringing the total proposed tax levy to $52,871,000. 

RECOMMENDATION

It is recommended that the Village Board approve the Ordinance Providing for the Levy, Assessment and Collection of Taxes for the Year Beginning January 1, 2024 and Ending December 31, 2024, for the Village of Arlington Heights.