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Village reviews property tax rebate totals and schedules public hearing on levy
Summary
Finance staff reported 1,693 applications for the property tax rebate program totaling $1,154,229 in rebates; trustees discussed levy options under PTELL and CPI constraints and scheduled a 15‑minute public hearing before the Dec. 1 board meeting to solicit resident input.
Finance staff presented the village’s property tax rebate report and a levy discussion during the Finance meeting.
Staff said the village has 2,309 owner‑occupied parcels and received 1,693 rebate applications this year. The total rebate value highlighted in the packet was $1,154,229 and staff had recorded about 36 denials for reasons that include late tax payment or not owning the property for the full year. Staff said checks will likely be issued in December or January and noted the large administrative task of issuing roughly 1,300 checks.
An adviser reviewed levy mechanics and the constraints of the Property Tax Extension Limitation Law (PTELL). Staff explained that, based on current budget projections and savings of about $6,000,000 at fiscal year end, the rebate program and garbage costs together would use about $2,000,000 per year — a level that, if unchanged, could exhaust savings in roughly three years. Trustees discussed keeping the levy increase at the CPI amount (about 2.9%) to capture allowable growth without triggering a larger tax increase, and asked staff to schedule a public hearing.
Trustees agreed to schedule a 15‑minute public hearing immediately before the Dec. 1 board meeting to give residents an opportunity to comment on the levy decision. No levy resolution was adopted at the meeting; staff will return with formal levy paperwork for a future vote.
