CITY COUNCIL AGENDA ITEM
ACTION REQUESTED:
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Receive the estimated 2025 property tax levies for special service area numbers 23, 25, 30, 31, 34, 35, and 36
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DEPARTMENT: Finance Department
SUBMITTED BY: Raymond Munch, Director of Finance
BOARD/COMMISSION REVIEW:
N/A
BACKGROUND:
If an estimated special service area (SSA) property tax levy is more than 105% of the tax amount extended for that special service area in the preceding year in any year other than the initial year of the SSA, state statute (35 ILCS 200/27-75) requires notice, compliant with the Open Meetings Act, be given and a public hearing held on reasons for the increase.
This agenda item includes the estimated levy for each of the City's SSAs that will levy taxes in 2025 for the purpose of determining whether a public hearing is required for any of the SSAs.
DISCUSSION:
The City has seven SSAs that will levy taxes in support of the proposed 2026 annual budget. The chart below compares the final 2024 property tax extension and the estimated 2025 property tax levy for each of the SSAs.
Purpose
2024
Final Extension
2025 Estimated Levy
% Change
SSA #23 (Naper Main)
98,941
98,939
0.0%
SSA #25 (Lacrosse Lane)
68,006
68,000
0.0%
SSA #30 (Downtown Streetscape)
93,117
93,111
0.0%
SSA #31 (Downtown Streetscape)
23,680
23,680
0.0%
SSA #34 (Downtown Streetscape)
20,029
20,026
0.0%
SSA #35 (Downtown Streetscape)
125,012
125,000
0.0%
SSA #36 (Downtown Maint. & Marketing)
-
1,259,718
0.0%
Since none of the SSA levies exceed 105% of their prior year extension, no public hearings are required for the 2025 levies.
Additional details on the amount requested for each levy are provided below.
SSA #23 - Main Street Promenade
The 2025 levy recommendation is $98,939. The request is nearly flat from last year's extension. This levy is utilized to provide a financing mechanism for debt service on the Naper Main parking facility based upon the existing economic incentive agre...
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