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Property Tax Levy Amount Approved: Final Vote Nov. 18

Post Date:10/14/2019 12:42 PM

Article Updated

At the October 21st Village Board Meeting, a resolution was approved to levy a municipal property tax. For the first time in nearly 40 years, the Village requested a tax levy totaling $3,800,000. The Library requested a tax levy totaling $3,674,461 for 2019.  The estimated impact to the owner of a median valued home with a market value of $231,400 is $232 (Village) and $224 (Library).  This reflects a $232 increase for the Village and a $0 increase for the Library.

This chart demonstrates the proposed levy's impact at a variety of assessed values.  

Property Market Value
Estimated Tax
$100,000 $100.21
$200,000 $200.43
$231,400* $231.90
$300,000 $300.64
$400,000 $400.86
$500,000 $501.07
$1,000,000 $1,002.14
$3,000,000 $3,006.42
$5,000,000 $5,010.70

 

 

 

 

 

 

 

 

 

*Median Home Value 

A public hearing and final adoption of the tax levy are scheduled for the Village Board meeting of November 18, 2019. To learn more about the evolution of the property tax discussion and exemptions visit our website. Below is a chart showing the effect the proposed levy would have on tax bill distribution. 

 DollarBillMap

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