On Monday, Dec. 19, 2022, the Wheaton City Council approved the City’s 2023 annual budget, which touts no increase in the property tax levy for the fourth year in a row. Additionally, the budget includes no new taxes, and no increase in water, sewer or parking rates.
Despite not raising taxes or revenues, the 2023 budget will maintain current services and will invest more than 22% of the budget – or $26.9 million – in capital improvements to ensure high-quality infrastructure in our community.
The City continues to be well-positioned to withstand economic downturns because of its strong economy, financial policies and budget performance and flexibility. In fact, the City of Wheaton is one of only 19 communities in Illinois and 426 in the U.S. to receive Standard & Poor’s Global Ratings ‘AAA’ credit rating, the top possible rating.
“Even in uncertain economic times, Wheaton residents and businesses can rest assured that their City is in elite company when it comes to financial position,” said City Manager Michael Dzugan. “The City is continually planning, evaluating and adjusting to make fiscally smart choices both in the long term and immediate term for our community.”
Only 12.4% of a property owner’s tax bill goes to the City of Wheaton, from which the City provides services including fire and police protection; emergency medical services; infrastructure repairs and improvements; snow removal; library services; and numerous other general government services. Approximately 68.3% of property taxes are distributed to School District 200; 10.2% to Wheaton Park District; 2.9% to College of DuPage District 502; and 2.2% to DuPage County. Several other township and county entities receive the remaining portion. In addition to property taxes, the City’s other major revenue sources include income tax, sales tax, charges for services and utility taxes.
You can view the full City budget on the City’s website.