Journal & Topics Media Group

Property Tax Levy Increase Expected For Rolling Meadows


Rolling Meadows residents will likely be asked to pay more in property taxes to the city next year.

A proposed budget for the city’s 2019 fiscal year was posted by Rolling Meadows’ finance department Tuesday (Sept. 18), including a 4.7 percent increase in the property tax levy over last year.

Property tax levies are amounts of money public bodies request of taxpayers to fund everyday operations. For Rolling Meadows, the tax levy increase is expected to raise total city property tax funding to nearly $14.7 million, or $657,430 more than last year. Average taxpayers in the city will see a property tax increase from $20-75 as a result.

According to the draft budget, levies for the police, fire and IMRF pension funds decreased over the past year due to favorable investments, while police and fire protection fund levies stayed even. The Public Works Operations levy increased.

Other changes to the proposed levy include a bond purchase to fund building two new fire stations and an increase to the annual street program levy.

Overall, general fund revenues are estimated to be around $32.4 million, while expenditures are expected to come in just under $32.8 million. Though a $365,727 deficit is expected, the city would still have a fund balance around $8.3 million — over three months of operating expenses.

Finance Director Melissa Gallagher said posting of the proposed budget kicks off the budget discussion process.

Going forward, public hearings on the levy as well as city and Rolling Meadows Public Library budgets will be held Oct. 9 and 23 respectively. Aldermen will also discuss the budget at meetings and one-on-one with staff.

A first reading of the final budget is scheduled for Nov. 13, with the second reading scheduled Nov. 27.

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