CITY COUNCIL AGENDA ITEM
ACTION REQUESTED:
title
Receive the estimated 2022 property tax levies for Special Service Area numbers 23, 25, 30, 31, 33 and 34
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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 200/27-75) requires notice, compliant with the Open Meetings Act, be given and a hearing held on reasons for the increase.
The City will be conducting a Truth-in-Taxation hearing for the aggregate City tax levy. This agenda item includes the estimated levy for each of the City's six SSAs that will levy taxes in 2022 for the purpose of determining whether a public hearing is required for any of the SSAs.
DISCUSSION:
The City has six SSAs that will levy taxes in support of the proposed 2023 annual budget. The chart below compares the final 2021 property tax extension and the estimated 2022 property tax levy for each of the six SSAs. Note that 2022 will be the first tax year in which a levy is assessed for SSA #30 and SSA #34.
Purpose
2021
Final
Extension
2022 Estimated Levy
% Change
SSA #23 (Naper Main)
98,942
98,939
0.0%
SSA #25 (Lacrosse Lane)
68,003
68,000
0.0%
SSA #30 (Downtown Streetscape)
-
87,422
-
SSA #31 (Downtown Streetscape)
23,445
23,680
1.0%
SSA #33 (Downtown Maint. & Marketing)
1,199,032
1,252,829
4.5%
SSA #34 (Downtown Streetscape)
-
18,010
-
None of the six SSAs are estimated to levy more than 105% of the prior year's extension, therefore, public notice and hearing are not required. Additional details on the amount requested for each levy are provided below.
SSA #23 - Main Street Promenade
The 2022 levy recommendation is $98,939. The request is nearly flat from last year's extension. This levy is utilized to provide a financing mecha...
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