Village of Rosemont

Finance

Village Tax Deferral Letter

4/9/2020
In an effort to provide some assistance to our hotel and restaurant businesses, the Village is, incertain circumstances, willing to temporarily defer the collection of its locally imposed Hotel, Gross Receipts, Parking, and Amusement Taxes.


The Finance Department is responsible for recording all day to day financial activities, as well as financial reporting, budgeting and capital assets for the village departments and all related businesses (Allstate Arena, Rosemont Theatre, Commercial Properties, Rosemont Health and Fitness, Donald E. Stephens Convention Center, Parkway Bank Park, The Dome, The Ballpark, and the Water Department).  This includes responsibility for payroll, accounts payable, medical and property & liability insurance, revenue collection, purchasing, tax forms and collection, bonds and other investments.  Information Technology also falls under the direction of the Finance Department.  

Finances

General Fund Budget: $56.7 million (2020)
Sales Tax Receipts: $16.2 million (2020 Budget)
Median Household Income: $41,778 (July 2018)
Median Home Value: $342,000 (July 2018)
 

Hotel Rooms: 6,085 

Average Hotel Occupancy: 74.5% (2019 Estimate)
Generated for the State of Illinois Sales Tax: $37.5 million (2019 estimate)
Hotel/Room Tax Generated for the Village of Rosemont: $15.1 million (2019)
Hotel/Room Tax Generated for the State of Illinois: $12.9 million (2019 estimate)
Economic Impact: more than $1 billion (estimate)
Hotel Tax Rate: 14% (6% state, 7% local, 1% Cook County)
Sales Tax: general merchandise: 10.25% restaurant: 11.25%
 

2020 (Jan - June) Water Rates (per 1,000 gallons)

Commercial: $10.09
Residential: $4.69
Non-profit: $4.53
For any financial related questions please call Village Hall at 847-825-4404
© 2020 Village of Rosemont. All rights reserved.
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