A proposed three percent property tax increase is one of the ingredients going into Deerfield’s proposed 2014 budget in excess of $40 million which will be less than anticipated because major Deerfield Road construction will wait until 2015.
The increase of the property tax levy means the owner of a $500,000 home will pay $677 for the Village’s portion of the real estate taxes after putting out $657 this year, according to Finance Director Eric Burk.
There will be some relief for taxpayers. The Village Board of Trustees has decided to abate all property tax money delegated for debt service other than that set aside for the Water Reclamation Facility, according to Andrew Lichterman, the assistant to Village Manager Kent Street.
Though Burk expects the Village to spend slightly more than it takes in next year, the balance will come from Deerfield’s reserves. He is tweaking final numbers based on direction he received from the Mayor Harriet Rosenthal and the Trustees at Monday’s Committee of the Whole meeting.
Though Deerfield Road will wait a year, the Village is moving ahead with $1.2 million in street rehabilitation work while it does an engineering study for the North Trail Subdivision in advance of a major project in 2015. The area has had flooding issues in the past.
“We’re doing an engineering study so we’ll be ready to go in 2015,” Lichterman said of the North Trail project. Another large effort, this one at Briarwood Vista, is planned for 2015 and 2016.
The citizens will get to have their say at 7:30 p.m. Monday on the budget and at 7:30 p.m. Nov. 18 on the property tax levy at public hearings.
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