2019 TAX LEVY Public Hearing and First Consideration of the 2019 - - PowerPoint PPT Presentation

2019 TAX LEVY

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Public Hearing and First Consideration of the 2019 Property Tax Levy Ordinance November 21, 2019

FY FY2020 B Budget D Devel elopmen ent t Proces ess

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Workshop I – Sept 12, 2019

Capital Improvement Program (CIP) Corporate Fund Policies

Workshop II – Sept 24, 2019

Overall Village Financial Picture Corporate Fund Operating Department Presentations Internal Service Funds (CERF, Insurance and Risk, FRRF)

Capital Improvement Program (CIP) Open Houses

October 9, 2019 October 23, 2019

Workshop III - Oct 29, 2019

Corporate Fund Update and Property Tax Levy Water and Sanitary Sewer Rates Permanent and TIF Funds Capital Improvement Program (CIP) Update

Tax Levy Public Hearing – Nov 21, 2019

2019 Property Tax Levy Hearing

Budget Public Hearing – Dec 3, 2019

2020 Budget Hearing

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Property Tax Levy

• Defined as the monies the agency obtains through the annual property

tax

• Glenview Village Board adopts an annual property tax levy by ordinance
• Files the ordinance with Cook County Clerk by last Tuesday in December

(12/31/2019)

• Cook County assesses the tax and it appears on the property owner’s

property tax bill

• Cook County collects the property taxes from the property owners and

distributes the taxes to the taxing agencies (School Districts, Park District, Village, Library, etc…)

• Cook County distributes the tax to the agencies in March and August
• The funds identified in levy are utilized by the Village, along with other

revenue sources, to fund the Village Budget

Government agencies in the State of IL establish a “tax levy”

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$0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500

Property Tax Comparison - Village Levy $500,000 Home

Glenview has the second lowest property tax on a $500,000 home

2019 Vi Village e Tax L Levy C Calcu culati tion

• n

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• Prior year tax levy
• Additional EAV from new property growth

.88% Growth

• Village =

$106,958

• Library = $55,368

Anticipated impact to current taxpayer = $0

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2019 Tax Levy Components

DISCUSSION

Public Hearing and First Consideration of the 2019 Property Tax Levy Ordinance