Streamwood approves flat tax levy for 60th anniversary

For its 60th anniversary in 2017, Streamwood will keep its property tax levy stable and lower its water and sewer rate by 1 percent, while still pursuing such capital improvements as the resurfacing of six miles of streets.

Village board members have unanimously approved a balanced budget of $59.4 million - a 4.2 percent increase from last year's - while keeping the annual tax levy the same at just over $11 million.

Village Manager Sharon Caddigan said Streamwood always strives to have a flat property tax levy, but it's a goal more difficult to achieve when the economy is not as good.

Other goals include not falling behind on road maintenance or unnecessarily racking up debt.

"We've always had a pay-as-you-go policy," Caddigan said.

In fact, the police station that opened in 2007 remains the village's only source of debt and is on track to be paid off in 2020.

Other plans for 2017 include the regular 10-year update of Streamwood's comprehensive land-use plan and the replacement of the community events sign on the municipal campus.

The village is also working with the Joint Action Water Agency on a plan to lower its water and sewer rate by 1 percent per year for three consecutive years, Caddigan said.