Carpentersville trustees approve budget and levy
Posted December 12, 2022 12:00 am
Carpentersville trustees this month approved a $103 million budget for 2023.
The budget, up roughly $13 million from this year's budget, includes about $7.6 million in property tax revenue. Village officials estimate property tax rates will decrease from $1.94 to $1.80 for every $100 in assessed valuation.
The new budget includes a $3.5 million spend down of reserve funds. Village officials, however, expect to end 2023 with a balance of $17.3 million, approximately the equivalent of half the village's annual operational expenditures.
The budget also includes about $13 million for capital projects, including improvements to the village's historic center in Old Town.
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