Glen Ellyn projects property tax bump

Glen Ellyn residents likely will see a slight increase in the village and library portions of their property tax bills next year.

The combined village and library tax levy is expected to increase 1.5 percent, interim Finance Director Larry Noller said.

He said the village’s levy for operating expenses is expected to increase by 2.5 percent, but that’s offset a bit by a slight drop in the amount of property taxes that will be levied for retiring voter-approved general obligation bonds.

On average, the owner of a $500,000 home will pay $17 more to the village and library next year. The amount that homeowner will pay the village is estimated to increase from $710 to $720 and the library’s payment is expected to rise from $445 to $452.

Though the library has a board of trustees that approves a budget and tax levy, the village board grants final approval to its finances.

Under a typical 2010 property tax bill, the village’s portion was 6.6 percent, and the library’s was 4.2 percent. The largest portion goes to school districts.

The village follows a self-imposed tax cap of less than 5 percent of the previous levy, or the amount of growth in the consumer price index, whichever is less. Those are the same rules the state requires non-home rule communities to follow, but since Glen Ellyn became home rule in 1994, village leaders have continued to endorse a voluntary cap.

The village board will formally consider the levy increases in November, prior to a December deadline for filing with the county.

Tax bills are mailed to homeowners in May.