Ela Township Announces $459,539 Reduction in Tax Levy
Ela Township portion is about 2 percent of taxpayers' total bill.
The Ela Township Board approved an ordinance reducing the Tax Levy from $2,358,000 to $1,898,461 at its March 14 regular board meeting Thursday night.
After months of reviewing the township operating budget Supervisor Lucy Prouty and the Trustees approved a plan to reduce the Tax Levy by $459,539. According to Prouty, the township has been able to set aside eight months’ worth of expenses should any unforeseen issues occur.
“Although The Township Officials of Illinois suggest townships have one to one and a half years’ worth of expenses set aside, we feel comfortable with where we stand right now and feel we are in a position to remain financially stable for years to come.”
Ela Township Assessor John Barrington explains “The Tax Levy is the amount of money collected from property taxes to fund the Township. This 20 percent reduction would be reflected on the Ela Township portion of the tax bills, which is currently around 2 percent of the total tax bill.”
Trustee Larry Bowman added “With the recent completion of building projects we now have the ability to provide these extra savings.”
Supervisor Prouty further states “The preparation of the Ela Township budget is more than projecting for receipts and disbursements for a given year. The township budget provides funding for essential services while providing the Boards vision for the future. The budget cycle for us is year-round in nature because budget development and implementation is on-going.”
“Our goal is to maintain long-term financial stability while providing essential services to residents. We seek long-term financial stability and this promotes a successful future for Ela Township”
Jack Reck, Ela Township Trustee and local banker explains that “because of responsible spending and saving by the Township Board and staff, this lower Tax Levy will not jeopardize the financial stability of Ela Township”.
Ela Township serves 40,000+ residents and covers 36 square miles. Within its borders are all or part of the Villages of Barrington, Deer Park, Hawthorn Woods, Kildeer, Lake Zurich, Long Grove, North Barrington, and portions of unincorporated Palatine and Mundelein.
This news release was submitted by Ela Township.