Nearly half of Wilmette's $100 million budget will pay for capital improvements like road repairs and flood relief projects
While this year's budget, which was approved earlier this month, is about 35% higher than the village's
Representing the single largest public works investment ever made by the village, the new stormwater management program, called the Neighborhood Storage Improvement project, is expected to provide flood relief to thousands of
While Braiman said the 2020 budget is "significantly higher than last year," he attributed the increase in village spending next year to the
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Officials plan to fund most of the capital improvement projects by borrowing money through bond sales, the first of which is expected to take place during the summer of 2020, Braiman said.
In addition, starting on
Overall, the village's share of the property tax levy will increase by less than 5% in 2020, adding up to an increase of about
Of the
For roughly every dollar spent on property taxes in the village, about
Still, Braiman said despite a balanced budget for 2020, the village continues to face challenges when it comes to non-property tax revenues, including sales tax, which remain flat. That has forced the village to become increasingly reliant on property taxes and reserves.
Indeed, with a growing sector of shoppers making purchases online, local bricks-and-mortar retailers like the village's former Carson's department store in
In addition to facing steep expenses to maintain and replace the village's aging infrastructure, the majority of the village's general fund budget is needed to pay the salaries of village personnel, including those employed with the police, fire and public works departments.
While Braiman said the village reduced its staff "significantly" at the height of the recession in 2008, officials are not currently considering making any further reductions, as they say doing so would lead to service cuts.
"The real challenge the village is facing is that our non-property tax revenues are decreasing or holding flat, and not increasing enough with our expenses, which does put more pressure on property taxes and reserves," Braiman said.
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