Wheeling considers 6.25 percent levy increase Monday

Although Wheeling residents got by without a property tax increase from the village last year, they won't be quite so lucky this year even though the village is taking various steps to cut expenses.

As with other towns in the area, Wheeling is facing falling revenue from lagging sales tax receipts. The planned levy increase won't make up for all of that but will keep the budget stable for another year, village officials said.

"If other revenue sources are flat, we have to make it up somewhere," said Michael Mondschain, finance director.

The board will be voting on a proposed 6.25 percent increase in the tax levy on Monday. That will bring in about $9.37 million compared to last year's levy of about $8.8 million.

For average taxpayers in the village, this means an increase of between $17 and $34 on the part of the bill going to Wheeling, according to Mondschain. The village's portion makes up about 9.2 percent of the property tax bill.

The village board has made $2.6 million in cuts from the 2009 budget so that the general fund deficit was trimmed back to $1.5 million. Much of the savings will be through attrition, where positions will not be filled as staff members take retirement or leave for other jobs.

Freedom Fest, which cost $203,000, will not be held next year, although the fireworks will still be performed. The village will also hold back on $32,500 in grants to social service agencies and will skip several employee activities, such as a picnic and appreciation dinner.

Last year, the board decided against a 5.25 increase in the 2007 tax levy because the village had $18 million in reserves.

Mondschain said the impact on pension funds from a falling stock market won't make a difference to the levy this year, but those decreases in value will likely effect the 2009 levy numbers.

"That's a real unfortunate impact of the stock market," he said.