Village of Mundelein issued the following announcement on Nov. 19.
A Truth-in-Taxation public hearing for the Village of Mundelein 2018 Tax Levy will be held on November 26, 2018 at 7 p.m. at the Village Hall-300 Plaza Circle during the regularly scheduled Village Board Meeting. Residents interested in presenting testimony are asked to please contact the Finance Director at 847-949-3211.
The corporate and special purpose property taxes extended for 2017 were $12,204,179. The proposed 2018 tax levy is $12,406,048. This represents a 1.65% increase.
The 2017 tax extension for debt service was $2,333,334. The proposed 2018 tax levy is $2,330,456. This represents a 0.12% decrease.
The total 2017 tax extension was $14,537,513. The proposed 2018 tax levy is $14,736,504. This represents a 1.37% increase.
However, it is the Village’s intent to abate a portion of the General Obligation Bonds’ Levy. As a result, the Village's net levy proposed for 2018 is $13,381,048 or an increase of 1.5% over last year’s net levy request of $13,179,151.
The proposed $201,897 increase will be utilized to fund state-mandated pension obligations.
It is anticipated with this levy that the property tax rate will lower the rate from $1.56 to $1.53 per $100 of assessed value.
The Village’s portion of residents’ property tax bill is approximately 13%; other governmental bodies including Schools, County, Park District, Library, and Townships receive the other 87% of residents’ property tax bill.
Original source can be found here.
Source: Village of Mundelein
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