A public hearing was held on Oct. 17 regarding the 2020 Property Tax Levy increase. If approved, this increase will equate on average to $14.21 for a $300,000 home. The video of the public hearing is available at www.villageoflombard.org/meetings. The item will be placed on the upcoming Village Board Agendas for a first reading on Nov. 7 and a second/final reading on Nov. 21. The meetings will take place in the Village Board Room at Village Hall, 255 E. Wilson Ave., and all meetings are open to the public. If you cannot attend the meetings, you can view them as they are happening at www.villageofombard.org/live.
For more information, please visit www.villageoflombard.org/propertytaxes.
The Village continues to face budget challenges head on and will remain focused on providing residents with a balanced budget while maintaining excellent core services. Since 2017, the Village has made cumulative budget reductions of over $3.8 million. The Village eliminated 9 full time and 12 part-time positions which represented $1.2 million in reduced personnel costs and eliminated or reduced funding of various enhanced services and programs.
Property taxes represent 17.9% of the Village’s projected General Fund revenues. The remaining General Fund revenues come from other sources, with sales tax representing the largest portion, 28.6%. These revenues pay for core services that include public safety provided by Police and Fire Departments; building and code enforcement from Community Development; responsible administrative oversight; and roads, forestry and infrastructure maintenance from Public Works. It’s important to remember that the Village receives less than $0.08 of each property tax dollar to provide the above services. (The pie chart shows the current, 2018 Property Tax Allocation for the Village of Lombard.)
An FAQ with additional information is available at www.villageoflombard.org/propertytaxes.