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Wauconda proposes $4.77 million preliminary property tax levy, a 3.2% increase
Summary
Director McManus told the board the village will seek an estimated $4,766,146 levy for tax year 2025, a 3.2% increase driven by CPI and expected new development; the item was approved for final consideration on the scheduled timeline.
The Village of Wauconda presented a preliminary property tax levy estimate of $4,766,146 for the 2025 tax year, a 3.2% increase over last year, village staff said.
"This is so that we can determine whether or not we're going to exceed the threshold for a public meeting, which we did not," Director McManus said, explaining that the levy proposal reflects a 2.9% CPI-based increase plus an additional 0.3% to capture expected new development. She said she did not factor out the newly established TIF 2 from that number and expects a shift of roughly $4,000 to $6,000 to the TIF increment in the first year.
Director McManus estimated the village portion of property taxes to be about $1,040 for a representative property, a change of roughly $26 for the year. She told the board the village will vote on the final levy on the 16th and submit the levy to Lake County on the 30th.
A motion and second were made to approve the levy estimate for consideration; the board approved the item on roll call.
The presentation included an invitation for questions; none were raised that changed the estimates during the meeting.
