Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tax Levy topic
No spam. Unsubscribe anytime.
Round Lake Beach trustees review preliminary 2025 property tax levy estimate
Summary
Finance Director McGinley presented four levy scenarios using 2025 EAV of $617,903,497 and recommended a staff scenario (3.1%) that would produce a proposed levy of $3,542,693 and a tax rate near 0.572. Trustees moved to advance the estimate to the next board meeting for formal ordinance approval.
The Village of Round Lake Beach on Nov. 17 reviewed a preliminary property tax levy estimate for 2025 and discussed scenarios staff prepared ahead of the formal levy ordinance.
Finance Director McGinley told trustees the villages 2025 equalized assessed value (EAV) was $617,903,497, up from $555,775,951 in 2024. Staff presented four scenarios including a staff-recommended 3.1% scenario that would result in a proposed levy of about $3,542,693 and a tax rate of roughly 0.572. McGinley explained that, despite a higher dollar levy compared with last year, the tax rate is lower because of the increase in EAV.
The scenarios show trade-offs across categories such as general corporate, police pension contributions, IMRF and liability insurance. McGinley noted that the village is home-rule but still observes truth-in-taxation practices when increases exceed statutory thresholds.
Trustees asked clarifying questions about percent changes; the board emphasized that the presentation was an estimate and that formal approval will occur at the next board meeting when the levy will be adopted by ordinance and filed with the county. Trustee Husk moved to advance the staff-recommended scenario to the next meeting and Trustee Morales seconded; the motion passed.
