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Hinsdale trustees preview $16.64 million gross tax levy; abatement plan would net $13.42 million
Summary
At the Nov. 4 meeting trustees heard a formal first reading of the village's 2025 gross property tax levy and six proposed bond abatements. The gross levy was presented at $16,641,122; abating six bond series would remove $3,217,755 from the levy, producing an estimated net levy of $13,423,367 shared between the village and the library.
Village President Greg said the board will formally consider an ordinance and related resolutions to establish the village's 2025 tax levy at a later meeting.
Trustee Possema presented the first reading for items 6a through 6g, telling trustees the proposed gross levy totals $16,641,122 and that the village proposes to abate payments for six bond series that aggregate $3,217,755. "When you subtract the six bond series that are being abated from the gross levy, you come up with the same number that we had with the estimated net levy that we approved at the last meeting, $13,423,367," Possema said.
The presentation noted the estimated net levy reflects previous estimated net levies approved by the board and the Library Board: $9,433,711 for the village and $3,989,656 for the library. President Greg said property taxes account for roughly 40% of the village's general fund and about 98% of the library's operating budget, and that nearly one-third of the levy funds police and fire pensions, contributions largely determined by state law.
No final action was taken. Trustees were told the item will return for a second reading and abatement motions at the next meeting, at which formal motions and roll-call votes are expected.
