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The Village of Romeoville has approved its balanced budget for the fiscal year 2025-26. The budget aims to maintain financial stability, enhance public safety, and invest in infrastructure while promoting economic growth. The Village Board has successfully reduced the property tax rate for the tenth consecutive year and increased the property tax rebate for homeowners. This approach relieves the financial burden on residents and invests in the community's future.
Funding has been allocated for 127 significant capital projects, including street resurfacing, water and sewer projects, vehicle upgrades for police and fire departments, and park enhancements. The budget also reiterates the Village's commitment to providing Lake Michigan Water to the community by 2030.
An important aspect of this year's budget is the addition of two police officers to the local law enforcement team. This initiative highlights the Village's commitment to public safety and community well-being through outreach and proactive measures.
Mayor Noak commented on the budget, stating, “Preparing the budget allows us to gain a solid perspective on the year ahead, and I am thrilled about the exciting developments on the horizon,” adding that the strong financial standing of the Village facilitates tax rate reduction and homeowner refunds while enhancing infrastructure, safety, and community facilities.
It is noted that only approximately 10% of a homeowner's property tax bill goes to the Village, with the rest collected by other taxing bodies. Property taxes are based on the assessed value of homes, determined by the township assessor and billed by the Will County Treasurer's office. Residents with concerns about the assessed value can contact the township assessor's office or the Will County Board of Review for assistance.
