Carol Stream lays out nearly $78 million 2027 budget, no property-tax increase planned

Carol Stream officials on Friday presented the village’s 2027 budget — just under $78 million — and said the plan includes a roughly $1.8 million surplus while maintaining the current property-tax levy.

The budget’s baseline and risks: Finance Director John told chamber attendees the budget dedicates about 73% of resources to village operations and that the village’s general fund carries a modest 4.9% reserve to cover unexpected costs. "Our 2027 budget calls for just under $78,000,000 to meet the service obligations we have to our community over the next 12 months," John said. He added the general fund surplus "is about $1,800,000."

Why it matters: John and Mayor Frank Savarino said the village depends heavily on sales taxes, which have risen sharply — John cited a 21% increase in FY2025 and an estimated 12% increase in FY2026 — and now account for roughly 53% of general-fund revenue. That reliance keeps the village from needing a property-tax increase: "As long as we can keep that economic engine humming, there's really no need to address any increases in property taxes," John said.

State-level headwinds: Officials cautioned about recent state changes that reduce the village’s share of certain taxes. John said a small shift in the state’s estate/income-tax allocation — from 6.47% to 6.28% of the state-collected share — will cost Carol Stream about $210,000 in the coming year. Mayor Savarino criticized broader state moves that he said "take our power away locally and let it all come from Springfield," arguing such changes complicate municipal budgeting.

Budget breakdown and utility funding: John described the water and sewer fund as principally rate-supported; the village purchases more than 1 billion gallons yearly from the City of Chicago (roughly $6.6 million in cost). Officials also said a 4% water- and sewer-rate adjustment took effect May 1 to help cover rising costs and capital needs.

What’s next: No vote was required at the chamber briefing; officials said the budget reflects a cautious approach and will be managed through regular board oversight. The village continues to monitor state actions and sales-tax trends that could change the fiscal outlook.