Click on the link below to be taken to the Fiscal Year 2019 Approved Budget.
Proposed 2019 Budget Keeps $3.4 Million in Taxpayers’ Pockets
The Lake County Board approved a balanced budget at its November, 2018 meeting. The FY19 operating budget—which funds the County’s day-to-day operations—is $3.3 million less than last year (or 1%). In an effort to provide some relief to taxpayers, this budget does not take the allowable property tax levy increase based on the Consumer Price Index. This keeps $3.4 million in taxpayers’ pockets. The only increase in property tax revenue will come from growth on new property.
It’s important to remember that Lake County receives revenue from a variety of sources. Lake County’s portion of your property tax payment is about 7%. The rest goes to other taxing bodies, including municipalities, townships, park districts and schools – with schools getting about 69% of your property tax payment. See exactly where your property tax dollars are going by visiting our Property Tax Distribution website.
Lake County’s budget invests in many service areas, from transportation and public safety to health and economic development/jobs. The County Board is committed to fiscal responsibility and delivering cost-effective, efficient services. As a result, the County has implemented operational efficiencies, leveraged technology and cut costs by sharing services between governments, which has made a difference to our bottom line. Lake County government has maintained a AAA credit rating (the highest possible) for more than 20 years due to our strong budgetary performance and well-managed financial operations, along with our strong financial policies and practices, healthy reserves and manageable debt.