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Village adopts $1.78 million corporate tax levy after public hearing
Summary
After a public hearing and presentation by Finance Director Lori Lyons, the Village Board approved a 2025 corporate tax levy ordinance setting the levy at $1,782,900; Lyons explained levy mechanics and cautioned a 15% levy request does not automatically raise individual homeowners' bills by that amount.
The Village Board voted to adopt the 2025 corporate tax levy ordinance, setting the levy at $1,782,900.
Finance Director Lori Lyons opened the public hearing with a step-by-step explanation of the levy process, saying the tentative levy was announced more than 20 days prior as required by state statute and that the levy must be filed with the Kane and McHenry County clerks. Lyons told the board the village’s equalized assessed valuation is above $43.5 million, the prior-year extension was $1,550,222, and new construction this year is about $25,500,000 — which she estimated would yield roughly $106,000 of additional revenue. Lyons said a dollar in property taxes yields about 6¢ for the village and reminded trustees that state tax-cap rules (CPI or 5%) affect final extensions; she used a CPI estimate of 2.9% in the presentation and noted the clerks determine the final rate after applying extension limits.
Trustees and members of the public pressed staff on how a requested increase expressed as a percentage might translate to individual tax bills. Trustee (speaker) argued the 15% number looked large on social media; Lyons and others explained that the levy percentage is not a simple one-to-one increase in homeowner bills because assessed values and county calculations affect the resulting tax rate. One trustee stressed the operational consequences, saying, “If this does not pass, then we don't have the finances to pay the bills,” a point others echoed about services such as police and roads.
After closing the public hearing, the board considered and adopted an ordinance approving the annual corporate tax levy for 2025 in the amount of $1,782,900. The clerk called the roll for the ordinance; the motion passed on the recorded roll call (motion recorded as passing, 6-0 per the meeting record).
What happens next: Lyons will file the adopted levy with the Kane and McHenry County clerks by the filing deadline indicated in the presentation. The clerks will complete the tax-extension calculations in the spring and apply statutory limits that determine the final tax rate.
