Wellington Budget Challenge
Wellington, like many other communities, has tightened its belt in recent years as a result of budget shortfalls. This means lower taxes for many of our residents, but it also means less funding for Wellington’s services. Village leaders are prioritizing spending to make sure every budget dollar is spent towards our vision of a "Great Hometown" with a mission "to provide services that customers need, want, and are willing to pay for".
Where do these policy questions come from?
Budget projections are from the Office of Financial Management and Budget. There are presented after working closely with departments. These estimates are simplified calculations, based on the most current data available and are subject to change.
Where we Stand
Wellington has seen property values decrease from $5.6 billion in 2006 to an estimated $5.4 billion in 2013. This means a decrease in ad valorem tax revenues of $1.72 million and an overall decrease of over $11.4 million in general governmental revenue. This decrease is resulted in a budget reduction of $24 million since 2006.