Palatine Village 2013 Budget Looks Bright
The upcoming budget is expected to be approved at the Monday, December 10 village council meeting. The property tax levy has seen decreases for second year in a row, and no new fees or taxes will be implemented.
Village Manager Reid Ottesen explained staff has taken a conservative approach toward the budget for the last couple of years.
"We have a balanced budget, and for the second year in a row there is a decrease in the village's property tax levy," Ottesen said. "There is a slight reduction in the budget and no new fees or taxes for residents."
Ottesen did say there will be a minimal adjustment in the water rate, but Palatine still has the 49th lowest rate in the state, and is below average when compared to neighboring municipalities.
"We have worked hard the last four to five years to streamline our operations," Ottesen said.
The proposed 2013 annual budget was initially made public on October 27 and reviewed by the village council on November 5.
The entire budget is $105,862,656. The operating portion [of the budget] is $64,441,093, with $41,421,563 in the capital budget which includes TIF districts, debt service and pensions.
The entire budget is able to be viewed on the village website, and will be brought before the village council at the December 10 meeting for expected approval.