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Lake Bluff board holds public hearing and approves first reading of $5.5M property tax levy
Summary
Officials opened a public hearing on the 2025 property tax levy, reviewed levy calculations and impacts on a median home, and advanced the levy ordinance on first reading with a commitment to post materials online and continue the hearing at a future meeting.
The Lake Bluff Village Board held a public hearing on Nov. 24 to review the proposed 2025 property tax levy and advanced the levy ordinance on first reading.
Finance presenter Bettina reviewed levy mechanics, the assessment cycle and how the village’s levy interacts with county assessments. Staff reported an aggregate levy figure in the vicinity of $5.5 million and explained the levy is expressed in dollars (not rates), meaning changes in assessed value affect the tax rate but not the dollar levy. Bettina said pension obligations account for about 35.25% of the levy, equivalent to roughly $1.9 million of the proposed amount.
The presentation included an example showing the impact on a median-market-value home (reported at about $785,000) and noted that an increase in total assessed value (EAV) typically reduces the rate so the village receives the intended levy dollars. Trustees and staff discussed comparative rates for neighboring municipalities and whether levy materials should be summarized in the village newsletter; staff said the ordinance and full packet would be linked online.
Following the hearing and presentation, the board approved the levy ordinance on first reading by voice vote and continued the public hearing for further comment at the next meeting. The board also scheduled a second reading and the formal levy certification process per statutory timelines.
