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Glenview staff: proposed 2025 levy flat to taxpayers, three pensions will comprise majority of levy
Summary
Finance staff told trustees the proposed 2025 levy is flat to 2024 with only new-growth increases (0.95%/~$149,214) and that three pension lines (police, fire, IMRF) will account for roughly 83% of the levy; trustees asked about funding levels and actuarial percentages.
Finance Director Pozniak presented the village—s proposed 2025 property tax levy at Budget Workshop 3, saying staff started with the 2024 net levy of $15,706,777 and added about 0.95% (about $149,214) in new growth to arrive at a proposed levy of $15,855,991. He emphasized the approach mirrors prior years: the levy is flat to current taxpayers, with increases coming only from growth tied to new or improved properties.
Pozniak walked trustees through the levy—s five components and said the three pension contributions (police, fire and IMRF) represent a very large share of the levy. In the presentation he noted: "The three pensions in total represent 83% of the total levy," and described pension increases driven by updated actuarial assumptions, historical retirement rates and smoothing of investment returns.
Trustees pressed for clarity on funding-status percentages. Pozniak said Glenview funds a large share of actuarially recommended contributions and supplied point estimates: firefighter pension funding at about 68% of actuarial liabilities and police pension at roughly 70%, figures trustees described as higher than average for comparable jurisdictions. Trustees also noted the village itself receives a small share of each property-tax dollar paid by residents (about 5.5 cents on the dollar in the 2023 data used in the slides).
Staff showed an allocation chart that indicated School District 34 and Glenbrook High School District combined receive roughly 67 cents of each property-tax dollar; the remaining amount is apportioned among the village, park district, county, library and other taxing districts. Pozniak said debt-service is not part of the 2025 levy (no village debt-service component for 2025 and none in 2024), and he described the process for filling levy "buckets" from bottom up.
Trustees asked staff to confirm actuarial funding strategies and to provide supporting materials for specific pension funding percentages. Pozniak said those numbers reflect actuarial calculations and phased adjustments in contribution schedules.
No formal levy vote was taken at the workshop; staff presented the levy calculation and components for review ahead of the next steps in the municipal budget process.
