Hinsdale trustees review estimated 2025 property tax levy; pension contributions drive increase

Trustees reviewed the village’s estimated property tax levy for 2025 and were briefed on how pension contributions and debt service are shaping the village’s request.

Chair Posseman presented the levy estimate as a first read, noting Illinois law limits annual increases to the lesser of inflation and 5 percent, plus new construction. The presenter said Consumer Price Index for 2024 was 2.9 percent and that new construction value for 2024 was estimated at $66,000,000 (assessed at one-third, or $22,000,000), figures the village used to calculate its capped levy.

The packet showed a total village levy of $9,433,711, which the presenter said represented a 3.66 percent increase. The presenter described uncapped levy items totaling $343,381: about $73,000 related to a portion of the fire pension levy; $101,836 for the Gateway Special Recreation Agency; and $168,475 for debt service related to a 2019 bond for which alternate revenue sources are not available. The village’s required pension contributions shown in the packet were: police pension $1,678,586 (an increase of $316,142) and fire pension $1,461,390 (an increase of about $56,703). After required pension contributions, the packet showed remaining levies allocated between police and fire at $3,011,712 each.

The presenter noted the library board will set its own levy at a future meeting; the packet included an illustrative library levy of $3,989,656 if the library levies at the maximum. Combining the village and library illustrative amounts produced a total levy in the packet of $13,423,367 (a 3.72 percent combined increase), but the library’s final decision was not specified at the meeting.

This item was introduced as a first read; trustees did not vote on the levy tonight. Staff said the actuary calculated required pension contributions and recommended amounts presented in the packet.