CITY COUNCIL AGENDA ITEM
ACTION REQUESTED:
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Pass the Ordinance for the Levy and Assessment of Taxes for the Fiscal Year beginning January 1, 2026 and ending December 31, 2026, adopting a total levy of $23,680 for Special Service Area No. 31 (Downtown Streetscape - Block 423)
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DEPARTMENT: Finance Department
SUBMITTED BY: Raymond Munch, Director of Finance
BOARD/COMMISSION REVIEW:
N/A
BACKGROUND:
Special Service Area No. 31 (SSA #31) was created by Ordinance 19-068 in May 2019. The purpose of SSA #31 is to levy taxes for the reimbursement of expenses incurred for streetscape improvements associated with the redevelopment of Block 423 in Downtown Naperville, which encompasses the northeast corner of Jefferson Avenue and Main Street. SSA #31 will expire in May 2034.
DISCUSSION:
The City Council received the estimated 2025 property tax levy for SSA #31 at the November 18, 2025 City Council meeting in the amount of $23,680. The proposed property tax levy for the 2025 tax year is flat to the 2024 final property tax extension of $23,680.
Per state statute, a public hearing is required if the proposed 2025 property tax levy for a special service area is greater than 105% of the final 2024 property tax extension. Because the 2025 levy is less than 105% of the final 2024 tax extension, the City Council may adopt the annual property tax levy for SSA #31 without further action.
This levy amount is estimated to create a tax rate at or below the current rate of 6.6404, which is below the maximum rate of 14.9500 set by the originating ordinance.
FISCAL IMPACT:
The tax levy of $23,680 for SSA #31 will support the reimbursement of streetscape expenses as denoted in the 2026 annual operating budget.