Lake County Gazette

The Buffalo Grove Village Finance Director, Chris Black, has determined that the Village Board does not need to hold a public hearing under the Truth in Taxation Act. This decision comes as the proposed 2023 tax levies have not increased over 2022, according to Black. "Buffalo Grove Village Finance Director Chris Black has determined that the Village Board does not need to hold a public hearing under the Truth in Taxation Act as the proposed 2023 tax levies have not increased over 2022", said Black.

According to the finance director's memo attached to the Village of Buffalo Grove Board of Trustees meeting agenda for Nov. 6, The proposed 2023 tax levy for all levies other than debt service is approximately $16.8 million, which is a 0% increase.

The same memo also stated that only corporate, special purpose and pension levies are compared to determine if the proposed tax levy exceeds the previous year's levy. While debt service must be disclosed, it is exempt from this calculation.

The memo goes on to confirm that because there's no increase in levies, there will be no requirement for publishing a notice or holding a public hearing under the Truth in Taxation Act.

Additionally, it was revealed that The $9.2 million requested for Corporate Levy remains unchanged from 2022. These funds are used primarily to support public safety initiatives and interestingly enough, this corporate levy has seen no increases over the last five years.