Buffalo Grove's 2011 levy is up, but overall budget down

The Buffalo Grove 2011 tax levy is about $500,000 higher than this year's, but the village budget for next year is 4.6 percent smaller, the village board said this week.

The tax levy increase, from $13.9 million to $14.4 million, was small enough not to require a public hearing, said Finance Director Scott Anderson.

He added that for the first time since 1974, taxable property in Buffalo Grove declined from the year before. The $1.8 billion in taxable property represents a 5 percent decline from last year.

Anderson said the decline is due to a stall in home starts and home improvements, as well as being a reflection of current market conditions.

Meanwhile, the 2011 budget approved by the board calls for $59.75 million in expenses, a 4.6 percent decrease from last year.

The $14.4 million in taxes will be collected in 2011. Before abatements, which are expected to come before the board at the next meeting, taxes paid for a $300,000 home are expected to be $60 higher than this year, or about $800.

Village taxes represent less than one-tenth of a resident's total tax bill.

The tax levy includes the corporate fund for general operations, more than $7 million; pensions, more than $5 million and debt service, more than $1 million.

Meanwhile, the $59.75 million budget includes $33.4 million for general operations.

Village Manager Dane Bragg said water and sewer rates should remain steady, at $2.40 per 1,000 gallons for water and 60 cents per 1,000 for sewer.

Village President Elliott Hartstein pointed out the village is not obligated to spend the entire $59.75 million.

Trustee Jeffrey Berman commended Bragg, the new village manager, for his work on the budget.

“This was a challenging budget to put together in an environment that forced you to walk in and tell people to sharpen their pencils,” Berman said.