Hoffman Estates approves $167.8 million budget, keeps tax levy flat

 
Daily Herald report
Updated 12/6/2022 10:53 AM

The Hoffman Estates village board approved a $167.8 million 2023 budget Monday that includes no increase to the property tax levy while maintaining the high-quality services provided to the community, officials said.

The budget is balanced and relies on reserves to fund its capital program.

 

"We are fortunate that the organization is on solid financial footing and this budget will continue that practice while being sensitive to our taxpayers," Mayor Bill McLeod said in a written statement.

The spending plan includes nearly $21 million in capital projects, including $6.2 million 27 resurfacing and five reconstruction projects on neighborhood streets, ongoing water and sewer capital improvements, and upgrades to the stormwater management system

Studies that started in the 2022 budget year will be completed and implemented in 2023, including a fire station location and existing condition analysis, a water system study that analyzes emergency redundancies, and information technology business process/software evaluations.

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