Lisle Village Board Approves Flat 2020 Property Tax Levy
In recognition of the hardships faced by many this year, the Lisle Village Board of Trustees approved a flat property tax levy at their meeting held on December 21, 2020. The approximately $4.9 million property tax levy remains equal to the 2019 levy and is payable by property owners in 2021. The average property owner is expected to experience a reduction in the Village of Lisle's portion of their property tax bill due to the addition of new properties within the Village's corporate boundaries.
"This year has represented new and unique challenges," stated Mayor Christopher Pecak, "the Village Board is aware of the hardships faced by many in our community and we have responded by keeping the property tax flat, closely managing the Village's operating costs without reductions in municipal service levels, and responsibly planning for, and addressing, the long-term maintenance of the Village's infrastructure."
Approving the property tax levy is a key step in the development of next fiscal year's budget. While efforts made in 2020 have resulted in the development, review and adoption of long-term plans for the Village's water and sewer system, stormwater infrastructure as well as the bicycle and pedestrian network, the proposed Fiscal Year 2021-2022 Budget will include investments to put those plans into action. These investments will serve to preserve and enhance this infrastructure for the benefit of Lisle residents, businesses, and visitors.
The proposed budget will also continue to address the Village Board's 2019 -2021 Strategic Priorities while taking into account the impact of the pandemic on revenue sources. Service levels will remain the same, with proposed investments aimed at enhancing internal efficiencies and customer service. Investments in economic development efforts to support the business community, including funds to support the Lisle Economic Development Partnership, will also be proposed.
The Village receives approximately $0.06 of every $1.00 paid in property taxes, or six percent of a resident's overall tax bill, with the remainder being paid to other taxing bodies such as school districts, DuPage County, and other service districts.