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Village Board Finds Tax Savings

Use of reserves shaves off a portion of proposed tax hike for home owners.

Deerfield real estate owners will pay less property tax next year than originally planned though there will still be an increase of slightly less than $100 per year on a $500,000 house, according to . 

After trustees received assurances from Fialkowski during Monday’s Village Board meeting that sufficient reserves exist to abate approximately $833,000 in taxes, the Board unanimously approved a $10,299,236 property tax levy for 2011 due next year. 

The Board also passed some abatements related to interest on bonds Monday and will act Jan. 3 to pass a further abatement which will makes taxes approximately $100 per year less than originally planned on a $500,000 home, according to Fialkowski. 

“How sure am I it’s going to pass,”  said? “I’m pretty certain. I’m as sure as I can be without polling the board which I never do. I’m glad we’re able to save taxpayers on a $500,000 house about $100.” 

At its Dec. 5 meeting,  at the Village’s financial needs for the next fiscal year to see if he could recommend a further abatement of taxes.

At that time, Fialkowski proposed a levy and abatements that would increase taxes next year from $396.34 to $584.90 per year for a home valued at $500,000 in 2008. The Board wanted to see less. Fialkowski gave his latest report Monday.

“If we abate the levy for all debt service except water reclamation we can transfer $1,600,000 from our general reserve fund to cover our needs,” Fialkowski said. He indicated Deerfield would still have ample money in the bank to meet its obligations.

Though Village Board members praised Fialkowski for his efforts, they questioned him to be certain the move was prudent for Deerfield. Trustees Barbara Struthers and Mary Oppenheim wanted to be sure if certain projects were delayed no potential grants or federal funds would be lost.

“I do not want to delay to a point where we lose a grant,” Oppenheim said. Fialkowski assured her that would not be the case.

With construction scheduled to continue on Lake Cook Road in 2013 and on Deerfield Road in 2014, the possibility of less abatement and more taxes in later years remains. “It becomes less certain further in the future,” Fialkowski said.

In other business, the Village Board heard a report on potential ordinances regarding the use of alternative energy sources after consideration by both the Planning Commission and the Sustainability Commission.

After the Board learned more about potential regulations on the use of wind, solar and geothermal energy, it asked members of the community development staff to make changes before it considered an ordinance.

RB December 20, 2011 at 03:05 PM
We are having an Tax increase and I don't think we should spend money chasing Federal Grants. Harriotts Underpass cost us over $800k and now the Village is looking at a transfer of $1.6 million from reserves to get us a little smaller tax increase. Village participation in getting Federal Grants still costs us money. We would be looking at a lower increase if the Village had not spent so much money on the perceived problem at the underpass. Nice underpass, yes. Worthwhile in this economy....No! Now, we pay for it!
Daryl Kunz December 20, 2011 at 03:25 PM
I agree. The underpass was fine the way it was, and the inconvenience in traffic patterns will most likely not be forgotten for a very long time. But, give the Trustess some money, and they will find a way to spend it. And, with the proposed text ammendment for the church on Pine St., according to some of the Trustees' comments it's sounding like income from tax dollars is more is more important than the lifestyle of a neighborhood. I don't think they should feel too comfortable about being re-elected.

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