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Round Lake CUSD 116 CFO explains how levy requests affect individual tax bills
Summary
T. A. M. Soule, chief financial officer for Round Lake CUSD 116, explains that whether a homeowner's taxes rise depends largely on how their property value changes relative to other district properties, not only on the district's levy request; Soule uses a two-property example and cites a Lake County 12.4% value estimate.
T. A. M. Soule, chief financial officer for Round Lake CUSD 116 (Round Lake Area Schools), said the key factor determining how a levy request shows up on a homeowner's bill is how that home's value changed compared with other homes in the district. "How does this translate to your tax bill?" Soule asked in the district's third Tax Levy explainer video.
Soule told viewers there are four main influences on what a homeowner pays: changes in a home's value relative to other properties in the district; appeals or reassessments that shift the tax burden; requests from other taxing bodies (village, fire department, library and similar jurisdictions);…
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