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Truth-In-Taxation Public Hearing Held—Trustees Unanimously Approve Tax Levy

A Truth-in-Taxation public hearing for the Village of Mundelein 2018 Tax Levy was held on November 26, 2018. After the hearing, the Mayor and Board of Trustees unanimously approved the property tax levy and the tax abatement ordinances.

The 2018 aggregate property tax levy is $14,736,504. Last years’ tax extension was $14,537,513. This represents a 1.4% increase over the prior year. This is a $201,897 increase in taxes collected solely to fund pension obligations mandated by the State of Illinois. There is no increase in taxes to fund general obligations of the Village. Additionally, the Village abated $1,355,456 of the taxes for the General Obligation Bonds’ 2018 Levy.

As a result, the Village's net levy for 2018 is $13,381,048 which represents a 1.5% increase over last year’s net levy request. The resident of a $220,000 home in the Village will expect to see an approximate increase of $17 with the Village portion of their 2019 property tax bill. It is anticipated with this levy that the property tax rate will lower 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.

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