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Will County finance staff reports final 2025 levy extension of $159 million; committee hears explanation of limiting rate and supplemental levy
Summary
Finance staff reported a final 2025 tax levy extension of $159,000,000—about $756,421 higher than the estimate—driven partly by roughly $52,000,000 in new property; staff explained the limiting rate and referenced Public Act 102 / Senate Bill 508 as the statutory basis for a 2021 supplemental levy adjustment.
Will County Finance Committee members reviewed final 2025 levy‑extension figures that staff said will feed into the county’s 2026 budget and property tax bills.
"The final levy number is a 159,000,000, which is 756,000, up from the estimate of a 158,700,000," finance presenter Rishon told the committee, noting the final numbers included a supplemental amount of roughly $610,000 and that new property valuation rose about $52,000,000 to an invoiced base of roughly $510,000,000.
Rishon explained that the limiting rate is essentially the tax rate that appears on property tax bills and walked members through how the final levy differs from the original estimate. Rishon also referenced Public Act 102 / Senate Bill 508 (effective 2021) as the law that allows the supplemental levy to capture refunds from prior‑year assessment reductions or court‑ordered changes.
Committee members asked whether the final levy figure is the amount the county expects to receive on mailed tax bills; Rishon replied, "That's the final final amount that will be extended," but clarified actual receipts depend on collections and taxpayers who do not pay. The presenter said the corporate fund levy and a separate community mental‑health board levy were both finalized, with the latter reported at a final rate of about 0.0303%.
No vote was required on the presentation itself; members accepted the report and moved on to the next agenda item.
