Antioch board sets preliminary 4.98% levy estimate and plans voluntary reduction after receipts are known

The Antioch Village Board on Nov. 12 approved a resolution determining estimated amounts to be raised by taxation for 2025 (to be collected in 2026), setting an initial levy estimate 4.98% above the prior year.

Finance director Michael (addressed in the meeting) told trustees the estimate is a first step in the levy process and that the village—xpects to be under the 5% threshold that would otherwise require a public hearing. He recommended submitting the estimated levy now while retaining authority in the ordinance to voluntarily reduce the levy after the new municipal retail occupation tax receipts are known. "We're actually at 4.98%... this is just an estimate," Michael said, adding the village will monitor receipts and update the final levy after receiving actual numbers in mid-March.

Michael told the board the draft levy amount is $4,729,000 and said the village could later reduce that number once it has one year of actual retail-occupation tax receipts. He also warned trustees that the consumer price index used for property-tax limitation calculations is 2.9% and noted some levy components (pension levies) may not be subject to that cap.

Trustees discussed whether the village should set a lower benchmark (one trustee said he had previously proposed a 2% target), and Michael said lake-county practice permits submitting a higher estimate and then reducing it administratively. The board approved the levy-determination resolution by roll call and will consider adopting the final levy ordinance at the Dec. 10 meeting.