TO: Mayor and City Council
FROM: Kevin Sing, Director of Finance
SUBJECT:
title
Ordinance for the Levy and Assessment of Taxes for the Fiscal Year Beginning January 1, 2025, and Ending December 31, 2025 in and for the Joliet Public Library, Will and Kendall Counties, Illinois
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BACKGROUND:
The Joliet Public Library was created as a Public Library District, whereas the City of Joliet has the authority to levy property taxes to support the Library. For the 2025 levy, paid in 2026, we are proposing to levy an amount that is expected to keep the property tax rate the same. Although the rate remains unchanged, additional funding will be sourced from newly built homes and businesses.
|
|
2024 |
2025 |
|
|
Levy Amount |
Levy Amount |
|
|
|
|
|
Library |
$6,837,338 |
$7,177,838 |
CONCLUSION:
The 2025 proposed property tax levy is expected to result in the same or lower tax rate to property owners.
RECOMMENDATION:
recommendation
Based on the above, it is recommended that the Mayor and City Council approve the Ordinance for the Levy and Assessment of Taxes for the Fiscal Year Beginning January 1, 2025, and Ending December 31, 2025 in and for the Joliet Public Library.
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