The Salem Lakes Village Board passed a 2019 budget Wednesday that included a tax levy of $4,963,141.
The budget and levy passed unanimously with all board members present at a special meeting held just after a budget hearing. No members of the public commented or attended the hearing.
The 2019 tax levy including the Community Library levy is an increase of $147,241 or 3 percent from 2018’s levy of $4,815,900. The village cannot control the library levy. The village set portion of the levy for 2019 is $4,509,913, which is a $110,113 or 2.5 percent increase over 2018.
The village’s assessed value for 2019 increased 1 percent, which results in a mil rate of $3.51/$1,000 of assessed value, an increase of 1.4 percent from $3.46/$1,000 of assessed value for 2018.
Residents of the former village of Silver Lake may see the biggest impact on their tax bill. For the last two years since the Salem Lakes merger, Silver Lake and Salem residents technically had separate tax levies and rates — with Silver Lake’s rate per $1,000 of assessed value being higher. This will be the first year with a unified tax levy and the same rate for the entire village.
