HP to Hold Public Hearing on Proposed Budget
The Highland Park Town Council will hold a public hearing on its proposed fiscal year 2024-25 budget at 8 a.m. Tuesday, Aug. 6, in Town Hall, 4700 Drexel Drive.
The town’s expenditures are expected to increase by over a quarter to $73,377,982 in the next fiscal year. More than 85% “of the increase is a direct result of contracts related to purchasing treated water, treatment of wastewater, collection of solid waste, and capital improvements,” according to the proposed budget.
The proposed property tax rate for fiscal year 2024-25 is 20.7681 cents per $100 of valuation, a reduction of 5.8% from last year’s 22.0530 cent rate. The Town still expects its property tax revenue to increase due to the combination of rising home values and new construction. The proposed ordinance states that the budget would effectively raise the taxes by 3.5%.
The proposed budget recommends increases in stormwater, water, sewer, solid waste collection, and building permit fees.
A copy of the proposed budget is available on the town’s website and in the Town Secretary’s Office at 4700 Drexel Drive. The Council is scheduled to vote on whether to adopt the proposed budget and tax rate on Aug. 13.
