Property Taxes Set to Rise in Libertyville

How much of an increase can residents expect? Read on.

Property taxes are set to rise in Libertyville.
Property taxes are set to rise in Libertyville.
Libertyville residents can expect to see their property tax bills rise due to the referendum-approved road bonds, along with a modest increase in the village portion of their property taxes, should trustees approve the 2013 levy this month.

The owner of a home valued at $400,000 can expect to see an estimated increase of $74 on his or her property tax bill. According to village board meeting documents, the majority of that increase—$66—is due to the road bonds approved by referendum in 2012. The remaining $8 represents an increase in the village's portion of the property tax bill.

Trustees are set to vote on the 2013 levy at their Dec. 10 meeting. The village board held a public hearing Nov. 26 to hear residents' comments about the levy. No comments were received.

The village anticipates receiving $6,816,756 in property tax revenues for 2013, which is a 10.4 percent increase over the revenues received in 2012. As a result, the property tax rate would increase by $.09 to $.65, according to village board meeting documents.

"Most of this increase is due to the bonds approved by the 2012 referendum that are being used to rehabilitate village roads," according to village staff. "If the road bond levy is deducted, the tax rate would increase $.03, or $1.66 percent, over the 2012 levy."


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