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The committee advanced Hoffman Estates’ FY2026 budget process, including a 4.2% property tax levy increase, approval of the FY2026–FY2030 Capital Improvements Program, and directions to publish the budget hearing notice and draft tax levy and tax abatement ordinances.
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The committee reviewed the proposed FY2026 budget and was told the Village expects stronger-than-planned revenue from sales tax, engineering fees, and interest income. Because of that, the Village now projects using $2.186 million in reserves instead of the $5.45 million originally planned for operating and capital needs, while still keeping reserves above the required minimum. Members also moved forward the five-year capital improvements plan and set the public hearing on the proposed budget for December 1, 2025. The budget materials say the Village plans a 4.2% property tax levy increase, mainly because pension costs are rising, though the tax rate may still go down because assessed property values are expected to rise.
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