CITY COUNCIL AGENDA ITEM
ACTION REQUESTED:
title
Receive the estimated 2023 property tax levies for Special Service Area numbers 23, 25, 30, 31, 33, 34 and 35, and schedule a public hearing for November 21, 2023
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DEPARTMENT: Finance Department
SUBMITTED BY: Rachel Mayer, Finance Director
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 200/27-32) requires notice, compliant with the Open Meetings Act, be given and a hearing held on reasons for the increase.
This agenda item includes the estimated levy for each of the City's seven SSAs that will levy taxes in 2023 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 2024 annual budget. The chart below compares the final 2022 property tax extension and the estimated 2023 property tax levy for each of the seven SSAs. Note that 2023 will be the first tax year in which a levy is assessed for SSA #35.
Purpose
2022
Final
Extension
2023 Estimated Levy
% Change
SSA #23 (Naper Main)
98,939
98,939
-
SSA #25 (Lacrosse Lane)
68,003
68,000
-0.004%
SSA #30 (Downtown Streetscape)
80,003
93,111
16.4%
SSA #31 (Downtown Streetscape)
23,680
23,680
-
SSA #33 (Downtown Maint. & Marketing)
1,258,092
1,252,829
-0.4%
SSA #34 (Downtown Streetscape)
18,010
20,026
11.2%
SSA #35 (Downtown Streetscape)
-
125,000
-
Since two of the seven SSAs are estimated to levy more than 105% of the prior year's extension, a properly noticed public hearing is required. Per state statute, the hearing must be held not more than 30 days prior to the adoption of the levy but not at the same meeting in which the adoption of the levy is considered. Therefore, public hearings for SSAs #30 and #34 will be sch...
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