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Antioch finance director says proposed 2024 tax levy stays below PTELL hearing threshold
Summary
Village finance staff presented an estimated 2024 tax levy tied to a 3.4% CPI cap; officials said the levy increase falls under the 5% PTELL threshold and a public hearing will not be required, though several trustees asked questions about EAV changes and pension obligations.
The village's finance director presented the estimated tax levy for tax year 2024 and told the board the village is operating under the Property Tax Extension Limitation Law (PTELL). The director said the Consumer Price Index to be applied for this levy is 3.4% for 2024 and that the village's planned levy increase remains below the 5% threshold that would trigger a statutory public hearing.
The director explained staff used historical data, county estimates of new construction, and pension obligations in the calculation. He noted new construction estimates affect the levy calculation differently because new construction is not yet at full assessment and said staff used a 4.99% figure to capture new construction for calculation purposes. The director also walked trustees through the village's share of a typical residential tax bill and emphasized that many taxing districts (school districts, county bodies) contribute larger shares of a homeowner's bill than the village does.
Trustees asked questions about EAV (equalized assessed value) jumps in recent years and pension liabilities; the director reiterated that police pension obligations are a required levy component and showed historical extensions and CPI comparisons. The board did not record a final roll-call approval of a levy ordinance in the transcript; staff said the village would not need a public hearing because the levy increase is under the five percent cap.
The director recommended proceeding with the levy process as presented and returning formal ordinance language for board action at the appropriate time.
