The Village of Addison on Dec. 1 approved its proposed 2025 property tax levy, adopting a combined request of $17,689,571 that includes both the village and the library.

Finance staff told the board the village portion totals $11,724,043. The levy breaks down into a proposed corporate levy of $6,138,209 (a 4.29% increase from last year), a police-pension levy of $5,073,191 (a 3.65% increase) and a debt-service levy of $512,643 (a 1.2% decrease). The library’s proposed levy is $5,965,528; staff said the library’s board, a separate taxing body, set that amount and it appears as a separate line on taxpayers’ bills.

Why it matters: Finance staff said the village expects to use available sales-tax increment revenues to cover debt-service for selectable prior bond issues, allowing the board to abate the property-tax levies for four bond series (2015, 2016A, 2016B and 2017). Staff reported the proposed abatements total $2,496,032.50 and estimated a property-tax savings of $153.84 on a $350,000 home if the abatement is applied as projected.

What the board decided: The board moved and approved the levy ordinance and the abatement ordinances after staff presentation. Committee members recorded no substantive questions during deliberations and votes were taken by voice or roll call as noted in the minutes.

Details and next steps: Staff said the police pension fund uses an independent actuary to set its recommended levy and reported the fund’s actuary-funded ratio improved to 60.69% as of April 30, 2025, from 59.28% the prior year. The abatement actions depend on the village projecting sufficient sales-tax increment revenue to pay bond principal and interest; staff’s presentation framed the abatements as contingent on that revenue stream. The ordinances will proceed according to standard publication and implementation timelines for the village.