With a $12 million budget surplus, Arlington Heights village leaders will offer a tax abatement to residents this year.
The Village Board voted 9-0 to approve plans for disbursement of $1.6 million of those funds to be used as a tax abatement to residents – an average of a $50 tax credit reflected on the second installment of 2022 tax bills for homeowners with a $375,000 home. The remaining funds will be used for shortfalls in police and fire pension funds, unfunded mandates and village infrastructure, officials explained.“We’re in a very fortunate position,” Village Manager Randy Recklaus told the board.
According to Recklaus, village staff plan to use the remaining funds to allocate $2 million to the village’s fleet fund, $2 million to the firefighters pension fund, $2 million to the police pension fund, $3 million to lead service line replacements, $1.2 million to the water and sewer fund to increase the pace of water main replacement, $500,000 to the municipal parking fund and $100,000 to the capital projects fund.
Mayor Tom Hayes said this was the first time in his 32 years on the board there was a tax abatement to residents. Trustee John Scaletta, who is not seeking another term in the April 4 election, said this was the largest surplus ever, and when he looks back, the fiscal year 2022 budget was created in 2021 during the COVID-19 pandemic — when much of the area was shut down. So, he said, village planners were very conservative on village income numbers.
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