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Village approves 2007 budget, tax levy

Dec. 7, 2006

The Village Board unanimously approved a $5,812,600 tax levy and the 2007 municipal budget Nov. 30.

Taxpayers can expect a tax rate of $6.22 per $1,000, an increase of 39 cents - or 6.7 percent - from last year for the village portion of their tax bill.

The total levy increased by $386,030, a 7.11 percent increase from the 2006 budget.

The revenue raised through taxes and fees will go to pay for a $6,439,410 general fund budget.

Overall, the budget increased $161,840 - 2.6 percent - from the previous year.

More than half - 53 percent - of the general fund budget will be spent on salaries and benefits.

Another 24 percent of the budget will be spent on shared services, such as the library and the North Shore Fire Department.

The village's fund balance is expected to be $992,311 at the end of 2007. That amount represents a $28,927 - or 2.9 percent - decrease from this year.

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