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Motion to Determine an Estimate of Taxes to be Levied for Tax Year 2026 in the Amount of $56,293,924 and Approve a Public Posting of Truth in Taxation Notice
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Introduction
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This is a Motion to determine a probable levy for the purpose of publicly noticing a Truth in Taxation hearing. The estimate of taxes to be levied for tax year 2026 and collected in 2027 is in the amount of $56,293,924, based on the preliminary Village Manager’s Proposed Budget for Fiscal Year 2027. This estimated amount will be included in the public notice.
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Recommended Action
Approve the Motion
Prior Board Action
The Village Board of Trustees conducts a Truth in Taxation hearing annually prior to adopting its annual budget and approving a levy. Last year’s budget process included Board approval of MOT 25-275 on November 11th, 2025, preceding public posting in the Wednesday Journal of the Truth in Taxation notice. The subsequent Truth in Taxation hearing took place on November 18th, 2025 in advance of adopting the budget for fiscal year 2026.
Background
This Motion is consistent with 35 ILCS 200/1855 to 18100, Illinois’ Truth in Taxation Law, which requires taxing districts to determine a probable levy and publicly disclose and hold a hearing if their proposed propertytax levy exceeds 105% of the previous year’s extension, with mandatory newspaper notice 7–14 days before the hearing and a 20day levyestimate requirement. The Village typically conducts a Truth in Taxation hearing regardless of whether its levy meets the 105% threshold established by State law. This year’s proposed direct levy for Village activities surpasses the threshold so the Village is required to follow the statutory process.
The Village Manager’s proposed budget for tax year 2026 (fiscal year 2027) includes a tax levy increase of $56,293,924, of which $43,058,924 contributes to the Village’s own direct levy. (The remaining amount is distributed outside of Village...
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