The Waukegan Finance and Purchasing Committee on Nov. 17 recommended a proposed aggregate tax levy for tax year 2025 and spent much of its discussion on how bond payments, abatements and home‑rule sales tax interact with the property‑tax levy.

Staff presented the proposed levy and noted the total levy “inclusive of debt service” as stated in the record: "37,270,341." The committee discussed a separate inducement resolution that would keep the city’s option open to evaluate issuing up to $10,500,000 in bonds within an 18‑month window; the committee’s action on that resolution is nonbinding and only preserves the legal window to consider issuing debt later.

Alderman Florian asked for clarity about what "inclusive of debt service" means and how abatements affect amounts placed on the property tax. A finance staff member explained that general obligation bond payments are funded by property taxes but that the city routinely abates portions of principal and interest and uses home‑rule sales tax to cover the abated portion rather than putting it on the levy. The staff member said the amount added to the levy this year for debt service is about $2,688,658 (as stated in the meeting), and that the city routinely abates other portions of debt service.

Several aldermen sought further detail about timing and political implications, noting the levy has been held at a zero increase in the city’s portion for several years. Committee members asked whether approving the inducement resolution tonight obligates a tax increase in future years; staff repeatedly emphasized the inducement is not binding and only keeps the option open to evaluate issuing bonds later.

The committee voted to recommend the proposed levy and to approve the inducement resolution, allowing staff and council the option to consider bond issuance during the established window. The committee recorded questions and requests for follow‑up clarity on how any future bond issuance would affect next year’s levy and what revenue sources would be used to pay new debt service.