Village government · Cook County, IL

Mount Prospect's money: where it comes from and where it goes

In the latest recorded fiscal year (ended December 31, 2023), Mount Prospect took in $144 million and spent $129 million.

Latest recorded year: ended December 31, 2023Comes fromGoes to

See every government that serves your ZIP

Where it comes from

State tax money39%Village taxes34%Fees for services (water, garbage collection)21%Fines and other5.5%County and local tax money1.2%

What stands out

39%

of Mount Prospect's money comes from state tax money.A typical U.S. city of 50,000+ people gets 6.4%.

Village taxes34%

Property tax
25%$36.5 million
Other taxes
6.9%$10.0 million
What's in other taxesOther selective sales taxes; public utility taxes and 1 more
  • Other selective sales taxes$4.3 million
  • Public utility taxes$2.9 million
  • Other licenses$2.8 million

Amounts are by Census tax category.

Sales tax
1.6%$2.3 million

Fees for services21%

Fees for services
21%$29.8 million
What's in fees for servicesWater; garbage collection and 3 more
  • Water$16.6 million
  • Garbage collection$5.2 million
  • Gas$4.1 million
  • Other service charges$3.8 million
  • Parking$166 thousand

Amounts are by Census type of charge.

State tax money39%

Money the state passes on, paid for by the state taxes residents also pay.

From the state
39%$55.4 million

County and local tax money1.2%

Money passed on by the county or other local governments.

From the county and other local governments
1.2%$1.7 million

Fines and other5.5%

Interest, rents and other
5.3%$7.5 million
Fines
0.2%$333 thousand

Where it goes

Police, fire, courts and jails34%Running the government and other costs22%Water, sewer, trash and utilities11%Roads, transit and parking10%Parks, recreation and libraries8.6%All other spending13%

What stands out

7.5%

of Mount Prospect's spending goes to interest on debt.A typical U.S. city of 50,000+ people spends 2.5%.

Spending by category100%

Police, fire, courts and jails
34%$44.2 million
What's in police, fire, courts and jailsPolice; fire protection and 1 more
  • Police$22.0 million
  • Fire protection$20.8 million
  • Inspections and regulation$1.3 million
Running the government and other costs
22%$29.0 million
What's in running the government and other costsCentral staff services (personnel, purchasing, technology); other and not broken out and 1 more
  • Central staff services (personnel, purchasing, technology)$16.8 million
  • Other and not broken out$10.6 million
  • Finance, tax collection and budgeting$1.5 million
Water, sewer, trash and utilities
11%$14.8 million
What's in water, sewer, trash and utilitiesWater supply
  • Water supply$14.8 million
Roads, transit and parking
10%$13.2 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$13.2 million
Parks, recreation and libraries
8.6%$11.1 million
What's in parks, recreation and librariesLibraries and parks and recreation
  • Libraries$10.5 million
  • Parks and recreation$672 thousand
Interest on debt
7.5%$9.7 million
Health and hospitals
4.0%$5.2 million
What's in health and hospitalsPublic health
  • Public health$5.2 million
Social services
1.5%$1.9 million
What's in social servicesOther public welfare
  • Other public welfare$1.9 million
Sources and moreWhere these numbers come from and what they cover

Village of Mount Prospect. U.S. Census Bureau, 2024 Annual Survey of State and Local Government Finances, individual unit file, fiscal year ended December 31, 2023.

What this covers. The money of Village of Mount Prospect itself. Other governments that serve the same area (the city, county, school district and state) are separate and not included. Borrowing, transfers between a government's own funds, and pension trust funds are not counted as revenue.