Looking at the memo from Algonquin Village Manager Tim Schloneger on the upcoming tax levy, I found it interesting that the cost of the Police Pension Fund is greater than for the General Fund:
As one can see below, the Village Board is playing catchup with funding the Police Pension Fund aiming for 100% funding by 2033.
The Village started ramping up from 50% funding in 2018 and are now at 80% of expected payout.
Algonquin has issued bonds for capital improvements like Towne Park, Presidential Park and Willoughby Farms Park with a property tax backup. The village receives enough money from sales tax to make the payments without tapping real estate taxpayers.
Algonquin has comprehensive historical property tax data included in its memo to the Village Board. It follows:
