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Addison trustees approve 2024 property tax levy and abatements; police pension levy rises
Summary
The Village Board approved a combined 2024 tax levy of $17,249,465 (village plus library) and adopted abatements on several bond levies; the village corporate levy increases marginally while the police pension levy rises 11.48%.
The Village of Addison adopted its proposed 2024 property tax levy and several related bond abatements at meetings on Dec. 2, 2024.
At a public hearing earlier in the evening, Colleen Witt, the village finance director and treasurer, presented a combined levy request of $17,249,465 that includes both the village and the independent library levy. Witt broke the village portion into three parts: a corporate levy of $5,885,594 (about a 0.14% increase over last year), a police pension levy of $4,893,318 (an 11.48% increase), and debt service of $512,323 (a 1.13% increase). Witt said the village portion totals $11,291,235, a 4.81% rise over last year’s village portion when aggregate refunds are excluded.
Mary Majel Mazenga, director of the public library, told the board the library’s board voted to submit a levy of $5,958,730 — unchanged from last year — and that an estimated rise in the equalized assessed value (EAV) would lower the library tax rate. Mazenga said the estimate could reduce a homeowner’s tax bill by roughly $6.70 on a property with a $350,000 market value.
Witt provided a projected overall taxpayer impact, saying that with a projected 8.8% increase in EAV the proposal would translate to an estimated $15.08 increase on a $350,000 home. With no public testimony offered, the board closed the public hearing and later, during the combined committee meeting, voted to place the levy ordinance on the record. The committee recommended approval and the motion on the levy ordinance passed.
In the same committee meeting, staff presented abatements for several general obligation refunding bond issues. Officials said the village originally planned to use sales‑tax revenue to cover the bonds’ principal and interest; staff therefore recommended abating 2024 property tax levies on specific bond series. Abatement amounts listed by staff were: 2015 $1,222,800; 2016a $614,882.50; 2016b $249,400; and 2017 $3,394,500, totaling $2,481,582.50. Staff estimated the abatements would generate roughly $161.93 in property tax savings on a $350,000 home. The committee and later the board approved the abatement ordinances (first readings were also presented during the board meeting).
Witt also noted the police pension fund’s funded ratio was 59.28% as of April 30, 2024, compared with 59.92% in 2023, and that the pension board uses an independent actuary to recommend levy amounts.
The ordinance and abatement actions were presented as first reading items in the board meeting later that night and carried votes in committee and by the board as appropriate. The meetings closed with routine items and community announcements.
What happens next: the levy ordinance was advanced per committee recommendation and recorded at the Dec. 2 meeting; additional formal readings or ministerial steps required by state law will follow the statutory schedule for levy adoption and tax roll processing.
