Naperville Park District estimates $17 average property tax hike
Based on a proposed 6% increase in the Naperville Park District's expenses for 2023, board members have established an estimated tax levy increase as part of the budget review process.
The increase, if approved, would amount to approximately $17 added to the annual property tax bill for the owner of a $421,000 home. A total of $406 in property taxes would be paid by that homeowner to support the district's expenses, including salaries and benefits and the maintenance of 136 parks and 2,400 acres.
According to officials, the park district accounts for 4.73% of the total property tax bill for Naperville residents.
On Thursday, park district officials told commissioners that the proposed 2023 budget calls for $47.1 million in expenditures, a 6% increase from this year. About 54% of the district's revenue, a projected total of $43.4 million in 2023, comes from property taxes.
According to information from the budget proposal, a $3.6 million deficit would be offset by the transfer of surplus money from other funds, including $2.8 million from the general fund and $730,000 from the golf fund.
Sue Stanish, the park district's finance director, said the proposal is based on estimates for new construction and the equalized assessed value of homes in the district, which is expected to increase by 4%.
While the park district has a 5% limit on the tax levy increase based on the Consumer Price Index, Stanish said, the levy increase is expected to be closer to 4.6%.
"When we're putting together our levy, we know we're basing all that information on estimates," Stanish said.
Park commissioners unanimously approved establishing the estimated tax levy increase.
"I think that's a bargain in terms of what we have to do and what they're getting for that extra money and how high inflation might go," Commissioner Marie Todd said. "We have to maintain what we already own. So let's not be shortsighted here."