A Flossmoor taxpayer with a home valued at $200,000 may see an increase to the village portion of their taxes of around $11 if the municipality moves forward with a 2021 tax levy estimate approved this week.
A Flossmoor taxpayer with a home valued at $200,000 may see an increase to the village portion of their taxes of around $11 if the municipality moves forward with a 2021 tax levy estimate approved this week.
The village board voted unanimously the evening of Monday, Nov. 1, to approve an estimate for the levy of $6.83 million, up 1.06% over last year’s $6.75 million extension. With the Flossmoor Public Library’s levy of $1.48 million included, the total levy would be $8.31 million if it receives final approval from the village board.
Flossmoor Finance Director Scott Bordui presented the levy estimate during the meeting, along with history, 2020 updates and 2021 options. Bordui noted 2020 was a reassessment year, and Flossmoor’s Equalized Assessed Value went up by 15.3%. That was despite very little new property and no major new development, Bordui said.
“That’s a nice bump up, a nice improvement, but we still have a long way to go to get back to the levels we were at at our high point,” Bordui said.
Bordui noted Flossmoor is limited in the 2021 levy by a 1.4 Consumer Price Index. Despite inflation “surging” in recent months, the CPI is limited to figures from Dec. 31, 2020, he explained. The village is once again not expecting much in the way of new property for the 2021 tax levy, he added.
The approach recommended by Bordui and tentatively approved by the board is to maximize the total levy to build savings and fund balance in a way that meets the village’s planning while also navigating tax caps.
Mayor Michelle Nelson praised Bordui for his thorough report to the board (on Page 131 of the meeting’s media packet), as well as Village Manager Bridget Wachtel and staff for handling operations with the village’s funding.
“This is one of the lowest CPI rates we’ve seen in 25 years,” Nelson said. “Yet, the village still provides outstanding service to our residents.”
Trustee James Mitros added, “In a way, we’re pretty fortunate here with how these numbers worked out. … It looks good to me.”
The village is expected to vote on its final levy on Monday, Dec. 6.
Other business
- The village board voted 6-0 to approve its consent agenda, which included authorization to borrow funds up to $1.68 million from the Illinois Environmental Protection Agency’s Water Pollution Control Loan Program for Phase 4 of the Sanitary Sewer Rehabilitation Project in the Flossmoor Hills and Highlands neighborhoods. The existing sanitary sewer surcharge is expected to cover the loan payments, as a Phase 2 loan will be paid off this year, according to a report from Public Works Director John Brunke.
- With the consent agenda, the village board also approved the purchase of de-icing rock salt for fiscal year 2022 at a cost of up to $36,108 from Compass Minerals America Inc. Salt will cost Flossmoor $60.18 per ton, and the approval covers up to 120% of what Flossmoor expects to use during the winter season in the event of heavy snowfall.
- The village board also approved with its consent agenda participation in Cook County’s 2021 No Cash Bid Program, which allows municipalities to acquire tax-delinquent properties for direct cost, develop them, and return them to paying tax rolls, according to a report from Wachtel. Staff has identified 22 parcels to pursue through the program, which includes commercial redevelopment, flood mitigation projects and floodplain projects that are not buildable, per the report. The village must still pay for attorneys, title reports, photos, maps and more.