The City of Englewood has introduced an $84.98 million proposed municipal budget, representing a 4.17 percent increase over the previous year's spending plan. Presented to the City Council, the proposal outlines targeted investments in local infrastructure, municipal services, public safety, and capital improvements while addressing the associated impact on local property taxes.
Under the proposed spending plan, the municipal tax rate is projected to increase by 5.4 cents, rising from $1.360 to $1.413 per $100 of assessed value. For an Englewood homeowner with an average residential assessment of $474,900, this adjustment translates to an estimated increase of $21.23 per month, or approximately $254.81 annually.
A major component of the budget is an $11.4 million capital improvement program, which is supported by approximately $2.45 million in state and county grants. The capital plan is designed to address long-term community infrastructure needs, allocating funds for local road and sidewalk rehabilitation, stormwater management and sanitary sewer upgrades, municipal facility renovations, and upgrades to local parks and playgrounds. Additionally, the capital allocation covers the acquisition of updated service vehicles and essential equipment for the police, fire, public works, and recreation departments.
To fund the $84.98 million budget, the city expects to generate nearly $64.9 million through local property taxes. The remaining revenue will be sourced from a combination of $4.6 million in municipal surplus funds, $2.8 million in state aid, and ongoing collections from payment-in-lieu-of-taxes (PILOT) agreements, construction permits, and local investment income. Municipal officials noted that Englewood's overall fund balance has experienced steady growth over the past decade and currently stands at more than $12.4 million, providing a stable financial reserve to cover unexpected tax appeals, emergency expenses, and future capital endeavors.