Round Lake CUSD 116 explains how Illinois limits its property tax levy

T. A. Amsoll, chief financial officer for Round Lake CUSD 116, said the district’s property tax levy is the formal request to Lake County for the property tax revenue it will seek for the coming year. "The levy is the school district's formal request to Lake County for the amount of property tax revenue we need for the upcoming year," Amsoll said.

Amsoll explained that the levy determines only the district’s portion of a homeowner’s tax bill, not the entire bill. He said the district’s portion accounts for "above 60% of your tax bill," and this briefing focused on how that district share is computed and limited.

Under Illinois law known as the Property Tax Extension Limitation Law (PTEL), the district may increase its request for existing-property revenue by the consumer price index (CPI) or 5 percent, whichever is lower, plus the value of new construction. "Under PTEL, the district can increase their request for property tax revenue by consumer price index, CPI, or 5 percent, whichever is lower," Amsoll said. He defined CPI as the year‑over‑year change in prices for goods and services and noted the 2025 CPI is 2.9%, which "becomes our limit on new growth."

Amsoll also described equalized assessed value (EAV) as the taxable value of all property in the district and said Lake County will not finalize EAV or new-construction figures until the spring after the levy is adopted. Because of that timing, he said, the district typically asks for slightly higher amounts when it files the levy to avoid ‘‘permanently losing revenue if estimates change.’’ He added that PTEL ensures the district will receive only the amount it is legally allowed, about CPI plus new construction in most years.

Amsoll walked through the administrative steps: the district files a levy request, holds a hearing if required (this year the request did not legally require a hearing but the district held one for transparency), the school board adopts the levy, and Lake County applies PTEL, EAV and new-construction figures to calculate the final revenue the district will receive. He said the county’s final determination typically occurs in the spring and changes appear on tax bills in June and September.

Amsoll closed by inviting viewers to a future episode that will explain what the levy means for individual homeowners’ bills.

The district provided no vote tallies or specific levy dollar amounts in this briefing; the speaker said those detailed tax calculations depend on Lake County’s spring figures and new-construction data and were not specified in the presentation.