CITY COUNCIL AGENDA ITEM
ACTION REQUESTED:
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Receive the estimated 2020 property tax levy for the City of Naperville, including the Naperville Public Library, and direct staff to publish notice for a Truth-in-Taxation hearing on December 15, 2020
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DEPARTMENT: Finance Department
SUBMITTED BY: Rachel Mayer, Finance Director
BOARD/COMMISSION REVIEW:
N/A
BACKGROUND:
Pursuant to 35 ILCS 200/18-60, the City Council determines the amount of money, exclusive of election costs, to be necessary to be raised by taxation upon the taxable property in the City. The proposed levy estimate can then be considered for final approval by the City Council at its December 15, 2020 meeting. This satisfies the minimum 20-day requirement between the estimate of levy and the adoption of the levy.
By law the City is required to approve and file with the DuPage and Will County Clerk's Offices a tax levy ordinance by the last Tuesday of December if the municipality chooses to raise revenue through real estate taxes. There are several statutorily required steps that need to occur prior to the filing of the levy. These steps include:
1. Make tentative annual budget available for public inspection and publish notice of a public hearing;
2. Hold a public hearing on tentative annual budget and pass an ordinance approving annual budget;
3. File approved budget with County Clerks within 30 days of approval, but before tax levy ordinance is filed;
4. Estimate the amount of taxes to be levied at least 20 days prior to approval.
5. Determine whether a Truth-in-Taxation hearing is required;
6. Publish notification in the newspaper of Truth-in-Taxation hearing not less than 7 days and no more than 14 days prior to date of the Truth-in-Taxation hearing; and
7. Hold Truth-in-Taxation hearing and adopt levy ordinance.
DISCUSSION:
The chart below shows the 2019 final levy and the final 2019 extension. The 2019 levy is used to support 2020 City operations, pension obligations, and debt serv...
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