(see page 31 of the packet). The document maintains service levels of Village departments to meet community demand. The Village's portion of the tax levy increased 6.77% to fund operations and debt service payments forecasted in the Long Range Financial Plan for updates in capital infrastructure. An owner of a $340,000 home will pay approximately $175 more than last year.
The Village Board approved an ordinance to implement a $30 Vehicle Registration fee, to be administered by the Department of Motor Vehicles, beginning in March 2025. This revenue is reflected in the approved budget. Another $700,000 in revenue is included from a new streetlight fee. The ordinance and formula for the fee will be developed in early 2025 to fund operation and replacement of the streetlight system. Lastly, the budget addressed multiple Village positions that were below market wages.
Thank you to the community who participated in the budget process by attending meetings and participating in the budget poll!