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Hinsdale trustees review estimated 2025 property tax levy, pensions drive increases
Summary
Board reviewed a draft levy that would raise the village levy to $9,433,711 (3.66% increase) and a combined village-plus-library levy of $13,423,367 (3.72% increase); police and fire pension contributions account for sizeable portions of the increase.
Trustees reviewed an estimated 2025 property tax levy on Oct. 7 that staff said reflects capped increases allowed by Illinois law and larger required pension contributions.
Chair Possema described the estimate as “near and dear to all of our hearts” and explained the levy calculation uses the lesser of inflation (CPI for 2024 was 2.9%) and 5%, plus value from new construction. Staff reported $66 million in new construction value for 2024, with assessed value treated as one-third of that amount.
The village’s capped levy was reported as $9,090,303 (a 3.87% increase). There are three uncapped levies totaling $343,381: about $73,000 related to a portion of the fire pension, $101,836 for the gateway special recreation agency and $168,475 for debt service on a bond without alternate revenue. Combined, staff said the total village levy would be $9,433,711, a 3.66% increase.
Staff also presented required pension contributions calculated by the village actuary. Police pension contribution was listed as $1,678,586 (an increase of $316,142); fire pension contribution was listed as $1,461,390 (an increase of about $56,703). After required pension allocations, the remaining levy amounts were allocated between police and fire at $3,011,712 each, per the presentation.
The library board’s levy had not been finalized; staff said an anticipated library levy of $3,989,656 would produce a combined village-and-library levy of $13,423,367 (an overall 3.72% increase) if the library board chooses to levy the maximum allowed. Staff noted levy notices were posted on the village website in conformance with open meetings act posting requirements for employees participating in the Illinois Municipal Retirement Fund.
No final levy ordinance or vote was recorded at the Oct. 7 meeting; the item was presented as a first read and will return for further consideration consistent with the village’s budget and tax-setting schedule.
